The Capital Hotels and Apartments group has been confirmed as the preferred bidder for the Fairmont Zimbali Resort. The deal is likely to go ahead providing the competition commission gives its approval.
The 18 acre KZN North Coast property in the heart of the Zimbali Coastal Resort eco-estate closed its doors last year and has been undergoing business rescue. The property features 150 rooms and suites, conferencing for 750 delegates and several restaurants. The renamed The Capital Zimbali is expected to open its doors later this year, and one of Capital’s key business objectives is to retain the hotel’s current staff complement as far as possible.
“The Fairmont Zimbali Resort is an iconic landmark on the KwaZulu Natal North Coast and a destination of choice for South Africa’s domestic leisure market, and among conference organisers,” says Marc Wachsberger, managing director of The Capital Hotels and Apartments (pictured above). “We are looking forward to welcoming guests to the property in September, once the roll-out of COVID-19 vaccines has made domestic travel more appealing, and the country is beyond the anticipated third wave of the pandemic.”
The Capital Hotels and Apartments will invest R30 million in an extensive renovation and refurbishment project on the five-star hotel, including transforming suites into apartment-style accommodation.
“The Capital Hotels and Apartments has built its portfolio of hotels by investing in the market at times when others would not, by identifying suitable distressed properties to add depth and value to our mix of business and leisure offerings,” says Wachsberger. The Capital Hotels and Apartments already has distinctive purpose-built properties in Johannesburg’s Sandton, Melrose, and Rosebank; in Menlyn, Pretoria; in Cape Town; and in Umhlanga, with a new property currently under construction in Mpumalanga’s Nelspruit.