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Old November 12th, 2005, 12:32 AM   #1
capetown
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One&Only Hotel, Seven-Star Hotel, Cape Town, South Africa

Name: One&Only Hotel
Location: Marina development at the Victoria & Alfred Waterfront, Cape Town
Floors: 8F
Cost: $80 million - ZAR550 million
Status: Proposed. Likely to open by 2008.
Use: Seven-Star Ultra Luxury Hotel with 160 rooms

---------------------------------------

Posted to the web on: 28 September 2005
V&A seven-star hotel held back by red tape
Dave Marrs
Business Day

Cape Editor
THE V&A Waterfront Company is pulling out all the stops to restart its development programme after an eight-month interruption caused by a dispute with the City of Cape Town over rezoning and plan approvals.

The company says the delay resulted in it losing tenants, who could not wait for the dispute to be resolved, as well as adding significantly to construction costs.

Among the delays are the construction of a 160-room “seven star” hotel and spa, as well as luxury villas to be built on one of the islands that will form part of the V&A Marina extension.

These were originally scheduled to start in March at a cost of R550m.

Now Stephens says it may be necessary to delay construction further to co-ordinate completion dates with the rest of the projects in the development phase. “It doesn’t make sense for us to open a luxury hotel in the middle of a building site.”

The Cape High Court ruled last week that a “package of plans” agreement put in place 15 years ago, when Transnet owned the land where the development is sited, remained valid despite ownership having changed.

When the council froze the plans in January, the projects, including a parking garage, two office blocks, the extension of the V&A Marina residential complex and Sol Kerzner’s proposed One&Only ultra luxury hotel, represented a combined investment of more than R1bn.

However, building costs have soared in the intervening period and V&A Waterfront Company MD Derick van der Merwe says his team is working frantically to “redo all financial estimates”.


Van der Merwe says management has “not even discussed” the possibility of taking legal action to compensate for losses arising from the delay, although this cannot be ruled out.

Kerzner Hotels senior vice-president of project development, Graeme Stephens, says while plans for the proposed One&Only hotel have been “resurrected”, construction could be delayed further by the need to “revisit the design”.

--------------------------------------

Financial Mail

07 October 2005

People

ANCHORS UP

At Lunch with the FM - Hilary Prendini Toffoli with V&A Waterfront MD Derick van der Merwe at Den Anker, V&A Waterfront, Cape Town

It's not only the unobstructed view of Table Mountain and the closeness to the water that makes Den Anker one of Derick van der Merwe's favourite Waterfront restaurants. He says it's one of the more consistently good ones, and certainly I can't fault my Canadian salmon.
Then there's the Belgian beer. Van der Merwe's choice is a blonde ale, Straffe Hendrik. Mine is weiss bier, a wheat lager that's a deliciously creamy alternative for people who don't drink beer.

Van der Merwe is upbeat, and no wonder. For the past year the Cape Town metro council has been blocking the development of about R1bn's worth of large Waterfront projects, including Sol Kerzner's One&Only hotel, the Marina Residential, the Victoria Wharf extension and the new parking garage.

Now the Waterfront MD has been given the green light by the Cape high court. The judgment upheld the original zoning agreement signed in 1993 by the city and Transnet, which has formed the basis for the evolution of the Waterfront since its inception in 1989.

"It started off with a dispute about view lines over the Marina basin, which was settled by Judge Foxcroft in favour of the V&A," says Van der Merwe. "He ruled that when you buy a piece of land, and someone else has the rights to the land in front, you haven't bought the view. You're only borrowing it until that person builds there. But the case had raised doubt in the minds of the city officials as to the waterfront zoning rights and they began to delay planning approval. In the recent ruling, Judge Siraj Desai cleared this deadlock.

"What everyone has forgotten is that they used to look on to the huge oil tanks before we started relocating them to Milnerton in 1992. We've changed the whole environment. There was massive oil contamination in the soil that we had to break down by introducing bacteria. It has all cost millions."

They have lost about a year on the One&Only. With eight storeys and 165 rooms, the hotel will now probably open only in 2008, after the completion of the Marina Residential next door and the extension of the Aquarium.

It's not only physical restructuring that's going on. Earlier this year Transnet, which owns 26% of the V&A's holding company, announced plans to sell its stake, sparking huge interest. A blue-chip investment, the Waterfront is rated SA's most popular tourist destination, attracting more than 22m visits a year. However, Transnet's pension funds own the rest of the company and have the right of first refusal.

"These are happenings at shareholder level," is Van der Merwe's comment. He's only slightly more forthcoming about the appointment of Bulelani Ngcuka, the feisty former national director of public prosecutions, as head of a new board of directors. "He's a brilliant chair, efficient and to the point."

But he's outspoken about the Waterfront plans for a megamarine development in Granger Bay, which is being opposed by the current tenant, the Oceana Power Boat Club. The plan will entail reclaiming water, and building permanent coastal armour.

"Waves of 11 m-16 m pound that coastline, so we need to put permanent shore protection there. During one storm 25 m of land was pulled into the ocean."

This 51-year-old is used to handling controversies involving the Waterfront, having been on board since the beginning as David Jack's second-in-command. After three years as acting MD, he took over five years ago.

A jovial and unassuming chartered accountant brought up in the Free State, he did his BCompt Hons through Unisa and, after finishing his articles in Pretoria, joined Imperial Cold Storage as a management accountant. Then he spent 10 years with Stocks & Stocks nationally, when it was building Sun City. In 1986 he moved to the Cape Town branch with his wife and three daughters. He had married her when he was 21 and she a 20-year-old nurse.

As financial director (southern regions) and MD of Stocks & Stocks' Cape property division, Van der Merwe developed the Bayside shopping centre in Milnerton and residential and office blocks. "That was when property development started becoming a fascination of mine."

After being head-hunted by the V&A, he went on a six-week tour of the waterfronts of the US and Europe with the team. "It was Baltimore's Inner Harbour that had most dramatically upgraded the city, something we could visualise happening in Cape Town. Most of them had closed their working harbours, a mistake we didn't intend making with ours."

They opened the first phase late in 1990. Van der Merwe's responsibilities included development feasibilities and the tenant mix. "A huge part of our success is the right tenant mix. We try to steer away from the nationals. It's not a cookie-cutter mall."

The planned 10 000 m² extension to the Victoria Wharf will be a clip-on at the front. "We want more fashion. Right now our male fashion - which attracts many parliamentarians and businessmen- is double the female."

When pressed for reasons why the Clocktower precinct's shopping area is so quiet, he points out that it houses the Waterfront's most successful retailer, Shimansky jewellers , and declares that the Clocktower's phase two is really going to pump. Two hotels, an office block and more retail, with an elevated connection to the Convention Centre complete with trading on it. And he's been talking to restaurant group Moyo.

"There are a lot of contenders for this space."

Last edited by capetown; November 14th, 2005 at 04:38 AM.
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Old November 12th, 2005, 12:53 AM   #2
rise_against
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im sick of hearing new 6,7,8,9...1000 star hotel opening up THERES NO SUCH THING!!!
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Old November 12th, 2005, 12:53 AM   #3
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but good for cape town, maybe i'll visit!
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Old November 12th, 2005, 01:10 AM   #4
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its true...i thought u only got 1-5 star...with all the new fads, u get 6, then 7 star hotels...what next????

Is this still happening tho? its been held up for along time
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Old November 12th, 2005, 01:30 AM   #5
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Quote:
Originally Posted by dysan1
its true...i thought u only got 1-5 star...with all the new fads, u get 6, then 7 star hotels...what next????
hmmm...8 stars?

nah, i get what you are sying and i agree...pretty stupid...
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Old November 12th, 2005, 01:40 AM   #6
capetown
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Dysan,

The City of Cape Town had blocked new developments on the V&A Waterfront as part of the zoning dispute in the Cape High Court in January 2005 but in September 2005 the V&A Waterfront won the case clearing the way forward for R1.5 billion in new developments at the V&A which include the second phase of the V&A Marina residential development, Sol Kerzner's One&Only Hotel, and two new hotels planned for the V&A Clocktower precinct.

It's true that Kerzner's ultra-luxury hotel has been delayed since it was first announced in November 2003 and was in the planning stages when the court case began. Construction on the One&Only Hotel will proceed after the marina residential component is completed. Kerzner will undoubtedly change the designs in the meantime as he is spending R550 million on the 160-room hotel, which is even more expensive than the R490-million ArabellaSheraton Grand Hotel Cape Town, which has 483-rooms and opened in August 2003 at the Cape Town International Convention Centre.
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Old November 14th, 2005, 05:46 AM   #7
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Hopefully the changes will include adding some height to the skyline.
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Old November 14th, 2005, 09:37 AM   #8
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Quote:
Originally Posted by cphdude
hmmm...8 stars?

nah, i get what you are sying and i agree...pretty stupid...
Yeah, it really is stupid, the only classification is up to 5 stars. Hotels with the caliber of the Atlantis and Ritz London are called Deluxe 5-star Hotels..
No 7-star, 6-star nonsens!
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Old November 14th, 2005, 09:50 AM   #9
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7 stars, I was wondering How luxurious it is?
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Old November 14th, 2005, 12:51 PM   #10
satit28
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well.........
i thought 4 is great enough for me.............
let's see how seven is gonna be.........
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Old November 14th, 2005, 01:37 PM   #11
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a 7-star hotel for 80 million dollars???? not going to work!!!!!!

add another 0 and we can negotiate!
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Old November 14th, 2005, 04:49 PM   #12
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Sol Kerzner: back with a bang


20 November 2003

He's back. Luxury hotel and casino magnate Sol Kerzner, one of South Africa's wealthiest entrepreneurs, has come home in typical style - with the announcement of one of the most expensive hotel developments Africa has ever seen.

Kerzner and his son, Butch, announced on Friday that their New York-listed company, Kerzner International Limited, had reached agreement with the Victoria & Alfred Waterfront company to develop a new six-star luxury hotel in Cape Town, under the new ultra-smart One&Only hotel brand.

Kerzner International will work with local partner Matemeku Investments to develop a 150-room One&Only luxury hotel at the V&A Waterfront, part of Cape Town's waterfront and harbour, at a cost of more than R450-million.

The V&A Waterfront, set against the backdrop of Table Mountain, is one of the most successful dockland renewals in the world, attracting some 22-million visits annually.

Cape Town's One&Only, to be built in the exclusive V&A Marina Residential area, will be positioned "at the highest end of the market", Butch Kerzner, president of Kerzner International and CEO of One&Only Resorts, said in a statement. "We aim to make the One&Only in Cape Town Africa's flagship hotel."

Construction on the new hotel is expected to start in 2005 and be completed by the end of 2006.

The Kerzners are also eyeing a number of other tourism projects in the country. Their alliance with Matemeku Investments, headed by local businessman Moss Mashishi, was formed earlier this year, and is reportedly exploring a number of hotel and game lodge development possibilities in the country.

The Kerzners also marked their return to South Africa with a R20-million donation towards the construction of a new hotel school in Johannesburg.

* SA gets new hotel school
Sol Kerzner, chairman and CEO of Kerzner International, said he was "pleased to be returning to South Africa, the country where it all began for us".

The new hotel, he told the Saturday Star, was "not just another hotel for me. I started up in this country, and now I've come back. I've always thought South Africa was one of the greatest tourist destinations in the world, and that Cape Town is without equal.

"And now people are marketing this country properly, and I'm really pleased about all of this."

Kerzner received a warm welcome home from Nelson Mandela. At a breakfast to mark the hotel school donation, Mandela declared that Kerzner was "by far the greatest entrepreneur in the tourism industry", and that he and his brother came from "a family not only interested in their own enrichment, but willing to give back to their country.

"Having the Kerzners back in South Africa, and having them herald their return with this generous donation to this new institution, is a tribute to the transformation that South Africa has enjoyed and the fact that we are now on the international tourism map", Mandela said.

South Africa's 'Sun King'
Known in South Africa as the "Sun King" - and often described as the Donald Trump of SA - the 68-year-old Kerzner's golden touch has made him one of the country's wealthiest entrepreneurs.

David Cohen, in an article for British newspaper The Evening Standard (The man after our casinos, 24 September 2002), relates how, at the age of 29, the boy who was born and raised in one of Johannesburg's poorest suburbs built South Africa's first five-star hotel, the Beverley Hills in Umhlanga Rocks just north of Durban.

"Within five years", Cohen writes, "Kerzner had started the Southern Sun Hotel franchise, the South African hotel chain that transformed the leisure sector in South Africa and grew to 31 hotels.

"But his big break came in 1979, when he built Sun City in the so-called independent homeland of Bophuthatswana, striking a deal - which would later be attacked as highly suspicious - with the then homeland leader, Lucas Mangope, for the exclusive gambling rights."

In 1992, on the same bushveld site, Kerzner built "the even more flamboyant Lost City, creating an artificial rainforest replete with waterfalls, a beach, a sea with waves, a golf course with real crocodiles - and, of course, thousands of slot machines."

The Palace of the Lost City was Kerzner's last big project in South Africa. Dogged by allegations of bribery in the acquisition of exclusive casino rights - not just in Bophuthatswana but in the Transkei, another former South African "homeland" - Kerzner left for London in the late 1980s.

With his South African interests sold, Kerzner turned his sights on America - aiming big, very big, as always (or as the slogan on the front page of www.kerzner.com declares: "core value no.1 - blow away the customer").

"Based in the Bahamas", Cohen writes, Kerzner "set about building an international empire even more extravagant and fantastical than his South African one. His flagship is the hugely successful Atlantis on Paradise Island in the Bahamas, where his £1.4-billion casino-hotel is set amid the world's biggest man-made aquarium, a water-slide marine park inhabited by 100 000 marine animals including piranhas, sharks and stingrays.

"He also built the £200-million Mohegun Resort-Casino in Connecticut, owns the £300-million Resorts casino-hotel in Atlantic City, and has eight other beach resorts at exotic locations in Mauritius, Dubai and the Maldives."

And in the UK, Kerzner International is now looking to shake up the British gaming industry. Last year, the firm bought into one of Britain's premiere casino businesses, London Clubs International, perfectly placing itself to enter the soon-to-be-deregulated British gaming market.

"Each time he has sought to open a casino in a new territory", Cohen writes, "his controversial reputation has travelled before him and he has had to convince the local gaming board he is a person to be trusted. Each time he has eventually prevailed.

"Now, as he contemplates his next move, British casino owners may well be wondering which Sol will turn up: the misunderstood genius with the Midas touch who some say has mellowed with the years, or the pugnacious, uncouth, roughhousing man-boy not shy to tell his fellow board members to buck up or f*** off."

SouthAfrica.info reporter
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Old November 15th, 2005, 09:38 AM   #13
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I think that Burj Al Arab started this nonsense. 5 star is maximum. The only thing that one can say is that there are good and bad 5 star hotels.

Peter K
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Old November 15th, 2005, 10:01 AM   #14
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Very very true

This is fantastic news for Cape Town, but this 7-star stuff is rubbish. We have a 'six-star' hotel on the Gold Coast, the Palazzo Versace and most people just think it's a very opulent, over-priced five star hotel that celebrities stay in.
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Old November 16th, 2005, 08:20 AM   #15
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Its as silly as Airlines starting to brand themselves as 5* these days! What, are they going to install pools on planes now, one might ask. I mean, a plane is nothing more than a bus with wings!!
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Old November 16th, 2005, 09:05 AM   #16
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Even Crown Towers in Melbourne rates itself as a "6 star"...ridiculous...5 stars is max...otherwise the rating loses all meaning
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Old November 16th, 2005, 09:11 AM   #17
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copy right looooooooooooooooooooooool

Burj Al Arab + Emirates Palace are the only top hotels

UAE RULES LOL
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Old November 16th, 2005, 11:14 AM   #18
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7-star hotels are those that offer mind-blowing blowjobs to guests
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Old November 16th, 2005, 06:08 PM   #19
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I think I may be related somehow to Sol Kerzner
nevermind..
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Old November 16th, 2005, 07:20 PM   #20
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Quote:
Originally Posted by OtAkAw
Yeah, it really is stupid, the only classification is up to 5 stars. Hotels with the caliber of the Atlantis and Ritz London are called Deluxe 5-star Hotels..
No 7-star, 6-star nonsens!

it's just a marketing gag. same with the burj al arab in dubai.
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