Business News of Tuesday, 1 December 2015
Source: Daily Guide
Kingdom Hotel Investments (KHI), developers of Mövenpick Ambassador Hotel Accra, is offering the plush modern five-star hotel for sale, BUSINESS GUIDE has learnt.
A private and confidential document recently sighted by this paper in connection with the offer dated November 2015 said Jones Lang LaSalle Property Consultants Pte Ltd, a financial and professional services company, has been retained by Kingdom Hotel Investments (KHI), a leading international hotel and resort real estate investment company, to offer for sale the Mövenpick Ambassador Hotel Accra, Ghana, West Africa, a property developed by KHI and opened in 2011.
It is not immediately known why developers of the luxury facility have decided to sell it.
The offerors have directed interested parties who would want to know more details about the offer to download the Information Memorandum.
Financial, legal and property information is available for review upon execution of the Confidentiality Agreement.
Built on the site of the historic Ambassador Hotel, the five-star hotel features 260 well-appointed guestrooms & suites, a collection of five dining venues, extensive conference space and recreational facilities.
The historic Ambassador Hotel was originally presented to the Government of Ghana as a gift on the attainment of independence in 1957. It was redeveloped in 2011.
Located on the prestigious Independence Avenue, the property is surrounded by the city’s core government, business and cultural districts.
Additionally, the property is complemented by an adjoining 10-storey building containing 10,000 square metres of premium retail and office space.
Highlights of the property advertised by the offer, spotted by BUSINESS GUIDE, was that the hotel, located in the heart of Cantonments Ridge, was positioned as RevPAR market-leader, with state-of-the-art facilities and internationally branded by a leading Swiss upscale hotel company.
It is also said to have diversified income stream.
It also stated that the hotel has growth potential for which reason an incoming investor has the opportunity to capitalize on the high demand growth driven by a growing economy and favourable regional demographics.
The property includes a substantial land bank with the potential for future expansion of the hotel or the addition of commercial, retail space or residential units.