New owners for iconic Safari Hotel

Local jobs created

12 May 2021 | Tourism

Funds advised by Kasada Capital Management today announced the acquisition of the 414-key Safari Hotels and Conference Centre in Windhoek. This transaction will be made through Kasada Hospitality Fund LP and remains subject to approval by the Namibian Competition Commission.
The hotel complex, located within ten minutes of Windhoek’s city centre and adjacent to Eros Airport, consists of the 215-key Safari Court Hotel, the 199-key Safari Hotel and the Safari Court Conference Centre that includes a 1 600m² grand ballroom that can hold up to 2 400 delegates.
Kasada will rebrand the hotels utilizing the management skills, expertise and marketing resources available from its partnership with Accor and its portfolio of renowned international hotel brands.
The Safari Court Hotel will be converted to Mövenpick, and the Safari Hotel will become an ibis Styles.
By investing over N$100m (US$8m) in this refurbishment, Kasada will improve the existing conference facilities, which are a hub for local, regional, and international events in Namibia, creating a go-to destination for both business and leisure guests.
Commenting on the transaction, Kasada Managing Partner and CEO Olivier Granet, said that the transaction is aligned with Kasada’s strategy of bringing their capital and expertise to the management of existing properties in key locations in Sub-Saharan Africa. “We look forward to bringing our international hospitality know-how to Namibia’s leading hotel complexes, heralding a new chapter in its storied history with the incorporation of ESG and international best practices, and the creation of 150 jobs.”
According to Kasada Managing Partner and CIO David Damiba, the transaction underscores their continued belief in the resilience and long-term prospects of the sector in Namibia and is aligned with the government’s FDI initiatives. “It also highlights our ability to structure bespoke liquidity solutions for asset owners in difficult market conditions across all of Sub-Saharan Africa at a much-needed time in this cycle.”

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