Millat Properties to assume control of its Cape Town Hotel

Millat Properties confirms that its property located at 126 Buitengracht Street, Cape Town, will...

Millat Properties ("Millat") confirms that its property located at 126 Buitengracht Street, Cape Town, will no longer be managed by Hilton Worldwide.

It is disappointing that our relationship with Hilton has come to an end, especially during the COVID-19 pandemic, when South Africa's primary tourist destinations and its people most need support.

Millat will assume control of the asset in Cape Town on 12 July 2020.

Millat intends using this time as an opportunity to revitalise the hotel's offering, including redesigning rooms, in order to again deliver top-quality experiences for its guests in the future.

The group plans to work on multiple design concepts and fully equip the hotel to meet the new travel demand to visit Cape Town, which would hopefully return to the pre-pandemic data that has shown an upwards year-on-year trend.

In the interim, we will pursue discussions with multiple international brands and first-class operators. Considering the unique city centre location and with Cape Town's positioning as a preferred local and international destination, we are confident that we will secure a prosperous partnership with a new brand considering the deep experience and relationships we have cultivated in this industry.

Cape Town is the second most visited city in Africa, and the revitalised site will bring something new and special to the city's already spectacular tourist offering.

About Millat Investments:

Millat Properties is part of Millat Investments - a private family office which uses its own balance sheet to bring clever and deeply entrepreneurial solutions to complex commercial problems;
Millat Investments deploys its capital and know-how on assets and sectors it deeply understands. Its sectors of expertise include real estate, technology, hospitality and financial services;
The group is committed to supporting South Africa during the pandemic and beyond.

Released on behalf of Millat Properties.

For media enquiries, contact: Monica Steyn
MS Publicity: Head of Communications
Cell: +2782 452 2095