Cape Town - The Capital Hotel Group is making a first foray outside Gauteng with the 65-room Capital Mirage hotel set to open in Cape Town's De Waterkant in November.
The entrepreneurial hotel group started with two small leased properties in 2008 and today owns six properties across Sandton, including The Capital Empire, Moloko, 20 West, Villa, Hydro and Esprit. Another five properties are at various stages of development, including The Capital on Bath in Rosebank.
The Capital Mirage in Cape Town will include apartments, retail, residential and hotel components.
Marc Wachsberger, managing director of The Capital Hotel Group, told Fin24 on Wednesday that it was time to expand outside of Sandton. Apart from Cape Town, expansion is planned in Pretoria.
"We need to become national operators," explained Wachsberger.
What sets the group's offering apart, in his view, is that it offers "the best of both worlds".
"By having full kitchens in every room, we can offer self-catering apartments as well as a full hotel service. People, therefore, tend to stay longer with us as a result," he said.
"We offer an affordable alternative - a quality yet ‘no frills’ product that delivers real value to business and leisure travelers."
He explained that Cape Town was chosen as the group's first location outside of Gauteng, because within the matter of a year hotel accommodation in the city has gone from an over-supply - post the 2010 Fifa World Cup - to an under supply.
This under supply has developed, in his view, because Cape Town is a well-run city, rand weakness is causing an influx of travellers from overseas and since Cape Town became a World Design Capital in 2014, its conference appeal has increased as well.