TOURVEST BUYS THREE CITIES HOTEL MANAGEMENT COMPANY

Integrated tourism group Tourvest Holdings (Pty) Ltd has bought Three Cities Management (Pty) Ltd (TCM) in a move that will see its African Hotels and Adventures (AHA) business, a division of Tourvest, become the second largest tourism hotel and lodge management company in South Africa. The deal is subject to various conditions precedent including Competition Commission approval.

In terms of the deal, Tourvest will acquire the existing sales, marketing and management contracts for 23 hotels and lodges across the country as well as the TCM shares in The Alpine Heath Resort in the KwaZulu-Natal side of the Drakensberg and the Greenway Woods Resort in White River Mpumalanga.

CEO of Tourvest Accommodation and Activities Gary Elmes said the acquisition signalled the group’s intention to become a major player in the tourism accommodation sector.

“The TCM properties are an excellent fit with our existing portfolio with a good blend of lodges, city hotels and lifestyle retreats. We are particularly pleased by the many properties in KwaZulu-Natal, which is an area where AHA currently does not have a presence other than its cultural lodge, Shakaland,” said Elmes.

Elmes added that Tourvest would retain the 25 year old iconic brand and that the hotel component of its portfolio of the AHA properties would now trade under the Three Cities name subject to approval from owners

AHA managing director Neil Bald said he looked forward to working with AHA’s many new hotel partners and adding considerable value in further enhancing their guests’ experience through AHA’s expertise and experience in the field. A major advantage for our new partners is the large volumes of tourists and corporate clients sourced through Tourvest’s travel agency and tour operator businesses.”

Three Cities Group chief executive Michael Lambert said he had every confidence in Tourvest and that he was leaving hotel owners in good hands. “Our medium term strategy as a group was to divest of the Hotel Division by handing it to a large and credible player in the market and focus on expanding our Hospitality Education and Training Division, International Hotel School elsewhere in Africa. Tourvest is the largest tourism group in Africa with business interests ranging from inbound tour operators through corporate travel management to foreign exchange and crafts and curios retail operations” he said.

A detailed list of current TCM contracts can be found on the website, www.threecities.co.za

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