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Four New Hotels For Sa
Ewan Cameron, InterContinental Hotels Group's (Africa) Vice President Development, said: "The announcement of this first group of four Express by Holiday Inn properties in South Africa is indicative of our confidence in the country's economic prospects and stability, and in particular, the high potential of its tourism industry."
ISO Leisure chief executive, Gavin Watson, said that the total investment in the four new properties was of the order of 500 million rand. A further six projects were in the pipeline, with a roll-out of 25 new hotels in South Africa planned over the next ten years.
ISO Leisure chairman, and CE of BEE-owned investor Amabubesi Investments, Sango Ntsabula, said the opening of the Express by Holiday Inn properties in South Africa sets a milestone in the transformation of the country's leisure industry.
"Tourism is the world's fastest growing industry. With its high economic multipliers, for developing countries like ours, it is uniquely placed to stimulate economic growth, substantial and sustainable employment creation, as well as infrastructure development and foreign exchange earnings," he added.
"But importantly, because it is labour intensive, and offers so many opportunities for the informal retail sector, and other small businesses in procurement and service provision, it can contribute meaningfully to the transformation of our economy. For us at Amabubesi, this makes the industry an appealing sector in which to invest," he said.
The fastest growing limited-service brand in the world, Express by Holiday Inn now has 1,686 hotels globally, with a further 574 properties in the pipeline. - I-Net Bridge
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Posted on Friday, May 11, 2007 (Archive on Thursday, May 31, 2007)
Posted by hayleym Contributed by hayleym
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