Hospitality-focused PE firm Kasada signs Johannesburg hotel
Hospitality-focused PE firm Kasada signs Johannesburg hotel
The investment further strengthens Kasada's position in South Africa.
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Kasada, a private equity platform specialising in hospitality real estate, has announced the signing of Africa's first Hyde hotel, located in Johannesburg. Hyde is a brand under the Ennismore hospitality company.
In the heart of Rosebank, Hyde Johannesburg will have 131 rooms, including 31 suites and a gym. The hotel will undergo a soft renovation to reposition it to create a more bohemian feel that reflects the Hyde brand, including a new mural, creating spaces for art and music collaborations on the ground floor and new art installations throughout the hotel, bringing a new bold look and feel whilst supporting and celebrating local artists.
Olivier Granet and David Damiba, managing partners and co-CEOs of Kasada, said: “We’re thrilled about bringing Kasada’s expertise as the leading hospitality investor and owner on the continent to one of the best lifestyle hotels in Africa. As a committed and responsible investor in South Africa, we see this investment as a key opportunity to further our dedication to supporting economic and socio-economic growth through the tourism and hospitality sectors. We look forward to working closely with Ennismore to make Hyde Johannesburg the best lifestyle hotel destination not only for Johannesburg but also for the African continent.”
The investment further strengthens Kasada's position in South Africa, where it has, to date, made three investments in Cape Town. Kasada acquired the Cape Grace by Fairmont in 2022, the Pullman Cape Town in 2023, and is developing a Mama Shelter with Ennismore.
Kasada’s portfolio now consists of 20 hotels in operation or under construction across seven African countries.
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