Kasada acquires Cape Town hotel; to rebrand as Pullman
Kasada, an independent real estate private equity platform dedicated to the hospitality industry in Africa, has acquired the former Radisson Blu Hotel & Residence, the 214-room hotel in the centre of Cape Town, from a local real estate investment company.
This transaction strengthens Kasada’s position in South Africa, where the group already acquired the Cape Grace Hotel in 2022, further adding to Kasada’s existing portfolio, which now consists of 19 hotels in operation or under construction in eight countries in Africa.
The Radisson Blu Hotel & Residence is located within walking distance of the Cape Town International Convention Centre and Bree Street, a historic and cultural centre with multiple restaurants, bars, and designer shops and outlets popular with international and local business and leisure visitors.
The hotel will be the first one operated under the Pullman brand in South Africa and will offer extensive event and conference facilities that are flexible for large and smaller events, along with modern co-working spaces under the Wojo brand that will meet the increasing demand for flexible workspaces.
Olivier Granet, managing partner and CEO of Kasada, and David Damiba, managing partner and CIO of Kasada, said: “South Africa is a key market for Kasada, and we remain confident of its strength, resilience and attractive future growth potential. This is our second acquisition in Cape Town, further demonstrating our commitment to the region’s hospitality sector and our ability to create and deliver value across segments. We look forward to bringing our expertise as the leading hospitality investor and owner on the continent to revitalise this flagship hotel located in the heart of Cape Town, and to playing our part in enhancing South Africa’s attractiveness as a tourist destination.”
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