Tsogo Sun has announced that it has committed $100m towards the group’s hotel expansion in the rest of Africa, outside of South Africa, through the expansion of its hotel in Maputo and an acquisition in Nigeria. This brings the value of Tsogo Sun’s various investment projects under way to about $280m. The group said it will invest $30m in the expansion of its Southern Sun Maputo hotel in Mozambique, involving a complete refurbishment of the existing 158-room hotel.
In addition to refurbishing rooms, public areas and expanding the restaurant, 110 hotel rooms and new conferencing facilities will be added. Subject to conditions including regulatory approvals, the group will also acquire a 75% stake in Ikoyi Hotels — the holding company of the Southern Sun Ikoyi hotel in Lagos, Nigeria.
Tsogo Sun has managed the hotel for the original developers since it opened in 2009. The group said investment, including loan funding, was about $70m. Tsogo Sun operates hotels in six African countries outside of South Africa, namely Mozambique, Zambia, Tanzania, Kenya, Nigeria and the Seychelles.
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