Southern Sun Ikoyi rebranded to Mövenpick as Kasada Holdings completes takeover

Kasada Albatross Holding has actually finished the acquisition of Southern Sun and began operation under the Mövenpick brand name.

The hotel started operations under the Mövenpick brand name in December 2002 with the majority of the personnel of the previous Southern Sun brand name maintained by Accor Hotels.

Nairametrics initially reported in June that South Africa’s Southern Sun Africa (SSA) was getting rid of its 75.55% bulk shareholding in Southern Sun Ikoyi Hotels, in an offer valued at about $304 million consisting of $291 million in shares and another $1.3 million in investor loan claims.

  • The hotel is being obtained by Kasada Albatross Holding (the Purchaser), which is a subsidiary of Kasada Hospitality Fund LP.
  • The Kasada Group’s hotels are run under the banner of Accor’s large range of worldwide distinguished brand names.

A news release from Southern Sun checks out

” Southern Sun Ikoyi has actually changed hands, and from mid December 2022 is run under the Mövenpick brand name by Accor Hotels. For the past 13 years, Southern Sun has actually effectively handled the hotel where numerous regional and worldwide visitors have actually enjoyed its generous hospitality and friendly service associated with the popular Ikoyi landmark. The personnel stay and anticipate continuing this custom of service under the brand-new Mövenpick brand name.”

What is on the ground: A fast check by Nairametrics exposes the hotel is currently finding the Mövenpick brand name with personnel worn the brand name tee shirts. Mövenpick brand name insignias can likewise be seen around the hotel receptions and atriums.

  • The personnel of the hotel likewise notify Nairametrics that the majority of them were kept consisting of all the management, food and drink, and senior personnel.
  • However, the previous supervisor of Southern Sun, Mark Loxley resigned from his position as hotel basic supervisor. He has actually been the basic supervisor of the hotel because its creation in 2009.
  • A caretaker has actually been designated as the interim General Manager of the hotel.

source

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