Tourvest Holdings has bought Three Cities Management in a move that will see its African Hotels and Adventures (AHA) business, a division of Tourvest, become the second largest tourism hotel and lodge management company in South Africa.
In terms of the deal, Tourvest will acquire the existing sales, marketing and management contracts for 23 hotels and lodges across the country, as well as TCM’s shares in the Alpine Heath Resort on the KwaZulu-Natal side of the Drakensberg and the Greenway Woods Resort in White River, Mpumalanga.
CEO of Tourvest Accommodation and Activities Gary Elmes said the acquisition signalled the group’s intention to become a major player in the tourism accommodation sector.
“The TCM properties are an excellent fit with our existing portfolio, with a good blend of lodges, city hotels and lifestyle retreats. We are particularly pleased by the many properties in KwaZulu-Natal, which is an area where AHA currently does not have a presence other than its cultural lodge Shakaland,” said Elmes.
Elmes added that the hotel component of Tourvest’s portfolio of AHA properties would now trade under the Three Cities name, subject to approval from owners.