SUMMARY – KASADA, A LEADING PLAYER IN AFRICAN HOSPITALITY REAL ESTATE, HAS ACQUIRED CAPE TOWN’S FORMER RADISSON BLU HOTEL & RESIDENCE. THE BRAND AIMS TO MAKE THIS FLAGSHIP HOTEL THE PREFERRED CHOICE FOR BUSINESS AND LEISURE TRAVELERS IN CAPE TOWN.
Kasada has successfully acquired the former Radisson Blu Hotel & Residence in Cape Town. This 214-room hotel, located in the heart of Cape Town, was acquired from a local real estate investment company.
This transaction bolsters Kasada’s position in South Africa following its acquisition of the prestigious Cape Grace Hotel in 2022. Kasada’s growing portfolio now boasts 19 operational or under-construction hotels, comprising over 3,200 rooms spread across 8 African countries.
Radisson Blu Hotel & Residence: Prime Location and Exceptional Amenities
The Radisson Blu Hotel & Residence, working since 2017, enjoys a prime location at 22 Riebeek Street in Cape Town. This historic area offers many restaurants, bars, and designer shops, attracting international and local business and leisure visitors.
The hotel’s remarkable 104-meter-tall Art Deco architecture provides views of Table Mountain and the Atlantic Ocean. State-of-the-art facilities such as a wellness and sports area, multiple restaurants and bars, an outdoor swimming pool, terraces, and meeting rooms make it a popular place for business and leisure travellers.
Introducing the Pullman Brand and Modern Coworking Spaces
The Radisson Blu Hotel & Residence will mark the introduction of the Pullman brand in South Africa. It will offer event and conference facilities, adaptable for large and small gatherings, and modern coworking spaces under the fast-growing Wojo brand to cater to the rising demand for flexible workspaces.
Kasada will elevate the hotel’s standards in customer experience and ESG (Environmental, Social, Governance) performance. An extensive renovation program is planned for shared spaces, including the lobby, restaurant, and meeting areas. It aims to enhance environmental performance and secure the green-building EDGE certification.
With its exceptional location and service, the Radisson Blu Hotel & Residence aligns perfectly with Kasada’s investment criteria. It is poised to become the perfect point for business and leisure guests and the local community through their value creation program.
Kasada’s Commitment to South Africa
Olivier Granet, Managing Partner and CEO of Kasada, and David Damiba, Managing Partner and CIO of Kasada, expressed their confidence in South Africa’s hospitality sector. This acquisition in Cape Town underscores Kasada’s commitment to the region’s tourism industry and its ability to create and deliver value across segments. They look forward to revitalizing this flagship hotel and contributing to South Africa’s allure as a tourist destination.
About Kasada Capital Management
Kasada Capital Management is a part of the Kasada group, an independent real estate private equity platform dedicated to Africa’s hospitality industry. Established in 2018 with support from the Qatar Investment Authority and Accor, Kasada’s investment strategy spans all hospitality segments. Their hotels operate under the Accor umbrella, benefiting from the renowned Accor brands. Kasada Group aims to deliver attractive returns for investors while positively impacting local economies in a region with substantial growth opportunities. In April 2019, The Group closed its first fund, Kasada Hospitality Fund L.P., with equity commitments exceeding US$ 500 million.