According to Investicore and other industry experts, Cape Town is witnessing never seen before levels of interest from international and local hotel developers wanting to expand into Cape Town, South Africa’s top tourist destination.
Since the Mother City was named the World’s Leading Festival and Events Destination at the 2018 World Travel Awards in Lisbon and the best business tourism city in Africa by the International Congress and Convention Association, the demand for more hotels in Cape Town has grown.
‘Cape Town’s current hotel offering covers a broad variety of markets, including corporate, government, leisure and conferencing/ groups, so we’re trying to encourage developers to cater for several of these groupings as a means of limiting their risk.’
‘Of course, there are great cost savings for operators already established in the city, as you can synergise certain functions, such as the outsourcing of laundry or staff functions such as financial controller, between your various properties,’ said Wayne Troughton, CEO of HTI Consulting.
Although the Waterfront is the key demand area for development, the Foreshore has experienced significant expansion with the completion of the Cape Town International Convention Centre, the opening of the new Netcare Christiaan Barnard Memorial Hospital and the impending completion of The Onyx, a new apartment-style residential hotel.
Interest from private developers is growing too, notably with the soon-to-open Gorgeous George, a 32-room luxury boutique hotel in two refurbished heritage buildings on St George’s Mall. In addition to this, Strand Street is witnessing another wave of urban revival, with the iconic Pinnacle Building, previously home to Cape Town Tourism.
Watch this space, as Cape Town is definitely en-route to becoming an internationally renowned luxury accommodation destination.
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