Kasada Strengthens South African Hospitality Portfolio with Acquisition of Former Radisson Blu Hotel & Residence
Kasada, a real estate private equity platform focused on Africa’s hospitality sector, has purchased the former Radisson Blu Hotel & Residence in Cape Town. The 214-room property, known for its Art Deco architecture and strategic location, will be the first hotel operated under the Pullman brand in South Africa. Kasada, which already owns the Cape Grace Hotel, aims to enhance the property’s offerings through renovations and environmental upgrades, obtaining green-building EDGE certification.
Key Points:
- Kasada, an independent real estate private equity platform specializing in Africa’s hospitality industry, has acquired the former Radisson Blu Hotel & Residence in Cape Town.
- The 214-room hotel, with its distinctive Art Deco architecture, overlooks Cape Town and offers breathtaking views of Table Mountain and the Atlantic Ocean.
- The property will operate under the Pullman brand, providing extensive event and conference facilities along with modern coworking spaces under the Wojo brand.
- Kasada plans an extensive renovation program to upgrade shared spaces, lobby, restaurant, and meeting areas, aligning the asset with international standards for customer experience and ESG performance.
- The hotel’s prime location, amenities, and personalized service make it an ideal investment according to Kasada’s strict criteria.
Analysis: Kasada’s acquisition of the former Radisson Blu Hotel & Residence demonstrates the platform’s strategic focus on South Africa’s hospitality sector. By leveraging its expertise in property enhancement and customer experience, Kasada aims to elevate the hotel’s profile, contributing to South Africa’s attractiveness as a tourist destination.
Background: Kasada, with its growing portfolio of hotels across Africa, emphasizes sustainable and high-quality hospitality experiences. The acquisition aligns with the platform’s commitment to leveraging prime locations and unique assets for value creation in the hospitality sector. (Published by marketnewsng)