International third-party hotel management company expands its presence on the world’s second-largest continent
In partnership with IHG,Valor Hospitality Partners’ Africa division (Valor Africa) announced today that it will open the first voco™ on the continent in Johannesburg South Africa as part of a master development agreement (MDA) signed in 2019. The new voco™ The Bank, Rosebank will be the first property to debut under Valor and IHG’s MDA.
Through this agreement, Valor Africa will manage properties across IHG brands in Botswana, Mozambique, Mauritius, Ethiopia, Zambia and Kenya.
“We are thrilled to partner with IHG on the voco™ brand’s debut in Africa and look forward to providing guests a truly unique and memorable experience in the bustling and dynamic Rosebank suburb!” said Euan McGlashan, co-founder and managing partner of Valor Africa. “Since its global brand launch in 2018, voco™ has grown rapidly, and we’re proud to be the partner providing the expertise that’ll help ensure that steady expansion is successful”
Valor Africa will provide full-service third-party management offerings, including food and beverage, capital marketing and hotel development.
“We look forward to introducing voco™ to travelers across South Africa while ensuring the property achieves its full financial and operational potential,” said Michael Pownall, co-founder and managing partner for Valor Africa.
Located in Rosebank, a cosmopolitan commercial and residential suburb in central Johannesburg, the hotel will feature 132 guest rooms, three meeting rooms and an expansive dining facility that includes a restaurant, bar and locally branded lounge.
About Valor Hospitality Partners
Valor Hospitality Partners is a full service hotel management, acquisition and development company offering an array of services including site selection, product selection, entitlements, financing solutions, conceptual design, construction and project management, procurement, technical services, pre-opening hospitality management and operations management. Valor Hospitality Partners is a proven hospitality management company driven by excellence and achievement of top and bottom line targets. Our on-time/on-budget ethos, combined with our willingness to invest directly in projects, ensures we are aligned with owners and investors. As a comprehensive services provider, Valor Hospitality Partners can also plan and oversee the refurbishment and renovation of existing properties and assist ownership in positioning. Unlike most traditional hospitality management companies, Valor Hospitality Partners' extensive background and expertise in capital markets gives us unique insight to address property level capital requirements as well as operating issues. We can act as a deal sponsor and operating partner and will consider investing our own capital where appropriate. We can also assist existing ownership in developing and implementing restructuring and/or refinancing strategies.
About IHG®
IHG® (InterContinental Hotels Group)[LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a broad portfolio of hotel brands, including Six Senses Hotels Resorts Spas, Regent Hotels & Resorts,InterContinental® Hotels & Resorts, Kimpton® Hotels & Restaurants,Hotel Indigo®, EVEN Hotels®, HUALUXE® Hotels and Resorts, Crowne Plaza® Hotels & Resorts, voco™, Holiday Inn® Hotels & Resorts, Holiday Inn Express®, Holiday Inn Club Vacations®, avid™ hotels, Staybridge Suites®, Atwell Suites™ and Candlewood Suites®. IHG franchises, leases, manages or owns nearly 5,800 hotels and approximately 865,000 guest rooms in more than 100 countries, with over 1,900 hotels in its development pipeline. IHG also manages IHG® Rewards Club, our global loyalty programme, which has more than 100 million enrolled members.InterContinental Hotels Group PLC is the Group’s holding company and is incorporated in Great Britain and registered in England and Wales. More than 400,000 people work across IHG's hotels and corporate offices globally.
Visit www.ihg.com for hotel information and reservations and www.ihgrewardsclub.com for more on IHG Rewards Club. For our latest news, visit: www.ihgplc.com/media and follow us on social media at: www.twitter.com/ihgcorporate, www.facebook.com/ihgcorporate and www.linkedin.com/company/intercontinental-hotels-group
