South African group Tsogo Sun, which owns a chain of hotels in Africa, plans to invest US$100 million in two hotel projects in Mozambique and Nigeria, the group said in a statement issued in Bryanston last week.
In Mozambique, the group plans to spend US$30 million on expanding the Southern Sun hotel, in Maputo, which will involve a complete overhaul of the hotel, including its 158 rooms and common areas, as well as extending its restaurant and construction of another building with 110 rooms and new areas for conferences and meetings.
In Mozambique’s case the chief executive of Tsogo Sun, Marcel Von Aulock, said that this investment was driven by the fact that Southern Sun Maputo was performing well and by the development of the Mozambican economy.
The project in Nigeria involves acquiring around 75 percent of the shares of Ikoyi Limited, the business group of the Sun Ikoyi Hotel, in Lagos, which the group had managed on behalf of it original investors since it opened in 2009.
The Tsogo Sun group operates in seven African countries: South Africa, Mozambique, Zambia, Tanzania, Kenya, Nigeria and the Seychelles. (macauhub)