Kasada Capital Management (“Kasada”) has acquired Cape Grace hotel which is based in Cape Town, South Africa. Cape Grace Hotel is a 120-bed hotel that was established in 1996 and is located in Cape Town’s Victoria & Albert Waterfront district. Kasada will also revamp the hotel to comply with the sought after green building certification. The acquisition is officially the entry of the hotel specialist investor into the South African hotel sector. The acquisition amount was not disclosed.

Kasada Capital Management is an independent investment platform that is dedicated to hospitality in Sub-Saharan Africa. The firm was established in 2018 with the backing of the Qatar Investment Authority (the sovereign wealth fund of the State of Qatar) and Accor (a world leading augmented hospitality group). Kasada operates its hotels under the international brand of Accor. The Kasada Hospitality Fund is registered in Mauritius and reached financial close in 2019 with equity commitments of over US$500-million.