Tourvest's acquisition of Three Cities Management Company approved

Posted On Wednesday, 20 August 2014 16:15 Published by
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The Competition Commission has approved the acquisition of Three Cities Management Company by African Hotels and Adventue (AHA).

Tommy Edmond

The tourism property management business of black-owned integrated global tourism group Tourvest's Accommodation and Activities division.

Following the completion of the acquisition, AHA's portfolio of contracted boutique hotels, game lodges and lifestyle retreats will more than double from 20 to 43 properties spread across the country and elsewhere in Africa, making the company the second largest hotel and lodge management company in South Africa.

As part of the deal, AHA also acquired from Three Cities Management Company a majority shareholding in the Alpine Heath Resort in the KwaZulu-Natal side of the Drakensberg and the Greenway Woods Resort in White River Mpumalanga.

Tommy Edmond, Tourvest group chief executive, said the acquisition signalled the group's intention to become a major player in the tourism accommodation sector. "The Three Cities properties are an excellent fit with our existing portfolio of accommodation types with a good blend of lodges, city hotels and lifestyle retreats," he said.

AHA managing director Neil Bald said the company's immediate priority is to engage with the staff and management of the respective properties, and to ensure that key personnel are retained. "Our clients and trade partners will also be informed of the additional properties available to them," he said.

"We will also contact the individual property owners to see how we can work together to add maximum value to the partnership and further improve the guest experience. We offer hotel and lodge owners a number of benefits including our experience and expertise in the field of property management and access to the large volumes of tourists and corporate guests sourced through Tourvest's travel agency and inbound tour operator businesses," Bald said.

Chairman Robert Gumede added that the group welcomed the addition of the Three Cities properties to its growing portfolio of accommodation types. "As a black-owned entity, this strategic acquisition broadens our presence in the local tourism market, supporting our government's intention of promoting the sector," he said.

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