Millat Properties has secured Hyatt Hotels Corporation – the New York Stock Exchange-listed hospitality group – to take over management of its old Hilton hotel in the Mother City’s city centre.
This will be the US group’s first foray into the Cape Town tourism market.
The international hotel operator management deal, which was announced by Hyatt and Millat on Wednesday, will see the former Hilton property being refurbished and reopening in December as the Hyatt Regency Cape Town.
Millat Properties, which is part of Johannesburg-based Millat Investments group that’s controlled by the Farooqui family, did not reveal how much it plans to invest in the revamp of the 137-room hotel.
However, the deal with Hyatt Hotels represents a positive development for SA’s hard-hit tourism and hospitality industry in the face of the Covid-19 pandemic and related international travel restrictions.
Several of SA’s landmark five-star hotels, such as the Mount Nelson in Cape Town and Fairmont Zimbali Resort in Ballito, remain closed, while others like Sun International’s Table Bay Hotel will only reopen later this month.
“We’re delighted to work with Millat Properties to bring the Hyatt Regency brand to Cape Town,” Ludwig Bouldoukian, Hyatt’s regional vice president of development for the Middle East and Africa, said in a statement.
“As a premier destination, Cape Town has been a top goal for us to have a Hyatt hotel, and we believe there is meaningful potential for further growth in South Africa. Hyatt Regency Cape Town is a key element of our strategy to grow thoughtfully in markets where we know our guests are traveling,” he added.
