Kasada Capital Management (“Kasada”) has acquired a stake in Safari Hotels and Conference Group for US$8-million through its Kasada Hospitality Fund. The hotel is located in Windhoek and the Eros International Airport. The hotels forming part of the Safari Hotels and Conference Group will be rebranded as follows: Safari Court Hotel will be converted to Mövenpick and the Safari Hotel will be rebranded to Ibis Styles. The funding will provide liquidity for the additional investment plans as well as working capital for renovations on the properties.
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, registered in Mauritius, reached financial close in 2019 has equity commitments of over US$500-million. The stake acquired in the hotel was not disclosed.