Southern Sun Hotels has acquired the Grace Hotel & Office Building in Rosebank, Johannesburg from Hyprop Investments.
The acquisition is consistent with their business philosophy, to own and operate their own hotels.
Managing Director of Southern Sun Hotels, Graham Wood said, “We are excited to add another boutique deluxe hotel to our portfolio and we intend to rebrand and re-launch the 73-room, 5-star boutique hotel in the first quarter of 2012.”
The acquisition remains conditional on Competition Commission approval.
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