Lucid launches SA’s newest hotel brand Home* Suite Hotels

Posted On Wednesday, 22 May 2019 15:18 Published by
Rate this item
(0 votes)

Lucid Ventures, the R350M Cape Town based Hotel Fund, this week announced the launch of an all new boutique hotel brand Home* Suite Hotels into the South African market.

 -BEDROOM-

The brand aims to attract discerning business travellers and well-travelled tourists.

-DELI-BAR-

Lucid is an investment fund which facilitates a full tax deduction for its investors through its section 12J certification. The SARS incentive, a critical growth enabler to the South African economy, keeps investment funds onshore and stimulates high growth and job creating industries like tourism.

-EXTERIO-

Lucid’s integrated model combines its fund management skills with property development and hotel management capabilities. Its founder Gidon Novick formerly founded kulula.com and the SLOW lounges as Co-CEO of Comair. His co-directors are Andrew Kuming, head of leading urban developer K&S and Graham Wood, former head of Tsogo Sun.

-EXTERIO-DAY-

Home* Suite Hotels’ first hotel will open on the corner of Oxford and Bristol Roads in central Rosebank next week and will be followed by additional hotels in Rosebank and Sandton in Johannesburg, and Sea Point, Gardens and De Waterkant in Cape Town, over the next 24 months. The 25 to 80 key hotels will feature larger room sizes, a suburban feel and cutting-edge design by SLOW lounge creator Tonic Design.

The business model is based on efficient capital sourcing through 12J, low in-house development costs and a premium experience at a competitive price point in the four-star market. Home* Suite Hotels will be positioned in the gap identified between large 150+ room international branded hotels and high-end independent boutique hotels.

“We’ve pulled together an exceptional team to build the most desirable hotel experience in South Africa” concluded Novick.

 

Last modified on Wednesday, 22 May 2019 15:50

Most Popular

Fairvest to become fourth property company to list on A2X

Oct 30, 2019
DARREN WILDER
Fairvest Property Holdings, a real estate investment trust with a market cap of R2…

Pam Golding Properties Annual Residential Property Report 2019

Nov 08, 2019
SA Reserve Bank
Signs that the residential property market is beginning to stabilise.

Diverse range of residential and commercial properties on BidX1’s next online property auction

Oct 22, 2019
BIX1 AUCTION 1
A diverse array of residential and commercial properties with lucrative investment…

Atterbury launches its new co-working concept, Attspace

Oct 22, 2019
ATTSPACE1
Atterbury is making its first foray into shared workspaces with its new Attspace…

Prime commercial and residential development opportunities and investment properties on auction

Oct 22, 2019
 LOT 8 2
Business owners, entrepreneurs and developers seeking commercial or residential property…

Please publish modules in offcanvas position.