06 Mar Capital Hotel Group brings extended stay concept to Tshwane
The Capital Hotel Group is launching the first high-end apartment hotel in Tshwane, The Capital Menlyn Maine, on 15 March 2017. The apartment hotel will add 200 rooms to its stock, bringing it to 1,000 rooms.
The Capital Menlyn Maine boasts Koi as its in-house restaurant, flexible accommodation arrangements, state-of-the-art conference facilities and easy access to the trendy Menlyn Maine precinct.
The Capital Hotel Group was established in 2008 and owns 75% of the extended-stay, or apartment hotel, rooms available in South Africa. It has seven hotels across South Africa, excluding The Capital Menlyn Maine. Its occupancy rates are 80%, well above the 55% average hotel occupancy rates in South Africa.
“We are delighted to bring our world-class apartment hotel model to Tshwane, which has been lagging behind Johannesburg, Cape Town and South Africa’s other cities in terms of convenient, affordable, luxurious extended-stay accommodation. We believe that The Capital Menlyn Maine will revolutionise the accommodation industry in Tshwane,” says Marc Wachsberger, founder and managing director of The Capital Hotel Group.
Wachsberger says The Capital Menlyn Maine – which took just under R300-million to build – is expected to break even in just three months, in line with the other hotels it has launched. “The Capital Menlyn Maine is just another step on our path to remain the fastest-growing hotel group in South Africa. It is also in line with our ambitions to expand into Africa, where we plan on opening a minimum of two new hotels a year,” he says.
“While the apartment hotel or extended-stay concept is new to South Africa and Africa, it is not new to the world, where it accounts for 9% of hotel offerings. We intend to remain at the forefront of bringing the apartment hotel or extended-stay concept to South Africa and Africa.”