Century City’s newest hotel investment off to a good start as occupancies recover

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The 80-room hotel was built on a R125m budget – about R1.6m per key – and is expected to see its occupancy levels average around 60% within the first year of opening its doors. Moneyweb property

Century City’s Bridgewater Hotel is the newest addition to the Rabie Property Group’s 250-hectare mixed-use estate and, as the new kid on the block, the hotel has already started showing impressive occupancy rates – said to be up to 70% in its first two months of operation. The 80-room hotel located in Cape Town’s Century City was built on a R125 million budget – about R1.

“So all that conferencing, which would normally go to the bigger venues, is coming here.” “It’s a whole new market for us [in terms] of conferences that were too big for us historically, but they’re now the right size for us.” Read: Time to change the face of Cape Town tourism Greenlighting of Delta deal crucial International travel bans restricting air travel to South Africa also negatively impacted the business.

 

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