HPF Acquires Radisson Blu Gautrain Hotel

 HPF Properties, a subsidiary of Hospitality Property Fund, has entered into a sale agreement with Savana Property for the purchase of the majority interest in the Radisson Blu Gautrain Hotel in Sandton, Johannesburg. The hotel has 216 rooms, eight conference facilities, the Central One Restaurant and Bar, an outdoor swimming pool and a fitness centre. It’s also ideally located directly across the road from Sandton’s Gautrain station. In terms of the deal, HPF will acquire 78.2% of the hotel portion and 53 parking bays within the scheme for a combined purchase price of R346 million. Savana, the developer of the hotel, will remain a co-owner within the scheme and retain 21.8% of the hotel portion. Rezidor will continue to manage the property and business on behalf of the existing tenant, Ash Brook. It is expected that the registration of the transfer will take place in March.

Park Inn by Radisson for Newlands

Rezidor, a member of the Carlson Rezidor Hotel Group, has announced that it will be opening a Park Inn by Radisson in the Cape Town suburb of Newlands. The mid-market property is scheduled to open in the first quarter of 2014. It is Rezidor’s second Park Inn by Radisson hotel in Cape Town - the group also has two Radisson Blu hotels in Cape Town (one in operation and one under development). The new build Park Inn by Radisson Cape Town Newlands will be the first internationally-branded hotel in Claremont/Newlands, a key upmarket business and residential node, in the affluent southern suburbs of Cape Town. Besides 122 guest rooms, it will comprise a club lounge, business lounge, the RBG Restaurant & Bar, a breakfast restaurant, a kiosk and help desk, a gym, multi-purpose meeting and function facilities, an outdoor terrace with sculpture garden and an outdoor swimming pool. The hotel will be in close proximity to the Newlands Cricket Ground, Newlands Rugby Stadium, South African Rugby headquarters, the Sports Science Institute of South Africa, and the University of Cape Town.