IFA Hotels and Resorts enters Namibia
Wednesday, March 28, 2007
IFA Hotels & Resorts (IFA HR) has entered into the Namibian hospitality market through a joint venture agreement with the Ohlthaver & List (O&L) group of companies, the leading private sector group in Namibia. The joint venture is valued at approximately US$ 75 million. Through the venture, IFA HR has also introduced five star luxury hospitality partner Kempinski Hotels (Kempinski) to Namibia in an agreement that will see the international hotel brand operate all four of the joint venture hotel properties.
Talal Jassim Al-Bahar, Chairman and Managing Director of IFA HR stated, “In addition to being very pleased with the announcement regarding our new partner Ohlthaver & List, we’re also extremely excited about the potential such a strategic partnership represents. Ohlthaver & List is at the forefront of the Namibian private sector and as such provides not only a platform for our initial entry into Namibia, but also represents future opportunities for our company to expand further into this growing market.”
Sven Thieme, Executive Chairman of O&L said, “The announcement of our new partnership with mixed-use developer IFA Hotels & Resorts fully supports our company mission to build innovative and sustainable businesses in Namibia. We are also delighted to welcome international five star hotel operator Kempinski Hotels. The entry of these two high-profile companies to Namibia will not only help increase our profile on the global travel and tourism stage, but also contribute to business growth that significantly
supports our socio-economic wealth and living conditions. I am very excited and proud to see these prestigious companies enter Namibia.”
Werner Burger, President and COO of IFA HR stated, “We are committed to increasing the global profile of projects being driven by IFA Hotels & Resorts South Africa and Namibia is no exception. Drawing on our expertise and resources, we will tap into our global clientele to generate awareness and grow investor appeal for our Namibian interests. It is also through the strength of our existing partnerships that we were able to bring renowned luxury hotel operator Kempinski into the folds of our Namibian operations. We first began working with Kempinski Hotels on our project in Lebanon during 2005, and we are looking forward to yet another successful partnership with them here in Africa.”
Kempinski Hotels is Europe’s oldest luxury hotel collection and in 2007, Kempinski is celebrating 110 years of history, exclusivity and distinctive luxury. While the Group was founded in Germany, its portfolio is now spread throughout Europe, Middle East, Africa, South America and Asia with properties in locations such as Abu Dhabi, Beijing, Berlin, Budapest, Djibouti, Istanbul, London, Moscow, St Moritz and Zanzibar.
Ulrich Eckhardt, Senior Vice President Middle East & Africa of Kempinski, said: “We are delighted that our relationship with IFA Hotels & Resorts has led to this opportunity to expand our presence into Namibia. Namibia has traditionally attracted a strong contingent of German visitors, as well as tourists from other key European markets, where Kempinski is already well established. It is for this reason, and with an eye on increasing international visitation through our own international portfolio, that Kempinski is ideally suited to join IFA Hotels & Resorts Limited and the Ohlthaver & List group of companies in operating their joint Namibian properties.”
The hotels that will be re-developed as a result of the joint venture are currently branded and operated within the Namib Sun Portfolio. The initial properties falling under the joint venture include The Strand Hotel, King’s Den Lodge, Mokuti Lodge and a fourth hotel to be developed in Windhoek. IFA HR SA will also assess the potential for residential and retail opportunities surrounding these properties, with a view to integrating them to the adjoining hotel properties.
Al-Bahar concluded: “Our aim is to provide an outstanding international network of resorts and real estate investment opportunities to our global customers. We see our investment into Namibia as a first step of expanding our presence through IFA Hotels & Resorts South Africa to the rest of Africa and South Africa, while continuing growing in Europe, the Indian Ocean region and the Middle East.”
Rania Deimezi
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Wednesday, March 28, 2007
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