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Discussion Starter · #2 ·
MCT South Africa 3

* Four-star hotel in the heart of Cape Town near the Convention Center
* High tax exemptions and use of the DBA Germany-South Africa
* Turnkey acquisition of hotel property, and other operational areas to approximately 9.1-times the initial annual rent
* Triple-net lease of the prospected total duration (10 years) with 5.75% sodium indexation per annum
* Additional letter of comfort for the lease with Queensgate Holdings (Pty) Ltd..
* Acquisition of the lease no later than 1 October 2009
* 6% per annum Initial dividend, rising to 15% on track
* Complete relief of the facility after 10 years (linear repayment)
*) Individual share of Return (sell-out rights of investors after 6, 8, and 10 years with annual gross returns (dividends plus share premium account after the repayment of capital) to sell on its scheduled course of 9.1%, 11.8% and 14.5% pa
* Liability limited to 10% of hours to be limited partner
* Trust management and independent release of funds control, acquisition Guarantee
* No additional costs for tax returns in South Africa
* Payment in U.S. dollars, Euros or edge possible, free currency exchanges
* Minimum subscription amount 150,000 Rand
 

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Discussion Starter · #7 ·


Rezidor Hotel Group set to launch Park Inn Cape Town Foreshore

Posted By Muzi Mohale On November 1, 2010 @ 9:18 am In Travel Press Releases | No Comments
#dd_ajax_float { border: 1px solid rgb(221, 221, 221); background: rgb(255, 255, 255) none repeat scroll 0pt 0pt; -moz-background-clip: border; -moz-background-origin: padding; -moz-background-inline-policy: continuous; float: left; margin-left: -250px; margin-right: 10px; margin-top: 10px; position: absolute; z-index: 1; }Digg Digg [1]

New mid market hotel for the city’s central business district
The Rezidor Hotel Group [2], one of the fastest growing hotel companies worldwide and an international leader on the African hospitality market, continues its dominant roll-out on the African continent with the announcement that the 120-room Park Inn Cape Town Foreshore is scheduled to open in the last quarter of 2011.
[3]
Park Inn [4] by Radisson is Rezidor’s young and dynamic mid market brand – “and we are excited to bring it to Cape Town now on the back of the Sandton property which opened in Johannesburg earlier this year,” said Andrew McLachlan [5], Rezidor’s South African based vice-president for Business Development for Africa and the Indian Ocean Islands.
The new hotel – the conversion of an existing office building – will be situated on Heerengracht Street in the Foreshore precinct of Cape Town’s central business district, with excellent accessibility to key locations such as South Africa’s number one tourist drawcard, the Victoria & Albert Waterfront, and the Cape Town International Convention Centre which is less 250 meters from the hotel. Cape Town’s international airport can be reached conveniently in 20 minutes.
With 120 modern and colourful rooms, the Park Inn Cape Town Foreshore will feature the signature grill restaurant “RBG Restaurant & Bar”, a gym, a business centre, two rooftop conference rooms, four small breakaway rooms, an impressive rooftop terrace, bar and swimming pool providing spectacular views from Table Mountain across the Helderberg Mountain Range to Cape Town Harbour.
The hotel will carry the fresh and energetic branding of Park Inn by Radisson, which prides itself on mastering the essentials better than the competition and on offering a comfortable, hassle free stay with excellent value for money. McLachlan sees continued growth in the South African market for Park Inn by Radisson. “We create an affordable hotel experience that’s warm and casual, easy to use, safe and fun.”
Rezidor president and CEO Kurt Ritter, visiting South Africa for the 4th Hospitality Investment Conference Africa (HICA) from October 31 until November 2, said Park Inn by Radisson was “efficient and innovative” – and also Rezidor’s fastest growing brand: Launched in early 2003 only, Park Inn by Radisson features today a portfolio of over 140 hotels across 26 countries in Europe, the Middle East and Africa.
 

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that second picture looks like the top of that vile park inn at heathrow just as you enter the tunnel
 

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Sounds good.

As long as it looks like the first picture and not the second...

Surprisingly, I like that bit of green at the bottom.
 

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Discussion Starter · #10 ·
This is fantastic news. It might sound silly but this part of town is not what it could be, and many of the stores on the lower levels of these buildings are vacant and dodgy.
 

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good to see after closing their Park Inn on Greenmarket square, that they have decided to open another one
 

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Discussion Starter · #14 ·
06 Apr 2011: Finance Arranged For Park Inn


Cape Town’s newest hotel - the 120-room Park Inn by Radisson in Cape Town’s Foreshore district - has secured its funding through specialist finance arrangers.



The Rezidor Hotel Group, one of the fastest growing global hotel companies, has tapped into the demand for middle-market hotel rooms in Cape Town, redeveloping an office building in Heerengracht Street in the CBD, near the Cape Town International Convention Centre and within walking distance of the V&A Waterfront. The hotel features a “RBG Restaurant & Bar”, gym, business centre, rooftop conference room for 120 people, a rooftop terrace, a bar and a swimming pool, all with spectacular mountain and harbour views.
After the successful 2010 launch of their first Park Inn by Radisson in Sandton, Johannesburg the group is up-beat. Says Andrew McLachlan, Rezidor’s SA-based vice-president for business development for Africa and the Indian Ocean islands: “While Cape Town has a proliferation of luxury accommodation, we identified a demand for middle market, comfortable, well-positioned hotels; the Park Inn by Radisson fits perfectly into this.” Opening is scheduled for November 2011.


The founders of Construct Capital, Clifford Kupritz and Ryan Wintle, which focuses on development finance and traditional commercial property finance, have managed development loans in excess of R3bn, bringing extensive banking and development experience. According to Kupritz, this new hotel is ideally positioned in terms of its locality and market and while funding for new hotels has been incredibly difficult to come by, they were still able to raise funds for the right projects.
 

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From what I could see from the N1 today, it looks like most of the new windows are in place and they've removed much of the green netting.
 
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