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Summary
Hotel Sky has appointed CBRE Excellerate as its exclusive transaction advisor to present this opportunity to investors. Letters of Intent (LOI) are welcomed until noon, 4 October 2024. The owners will close the process should a satisfactory offer be received before the deadline on the 4th of October, 2024.
Hotel Sky delivers a premium experience for the discerning bleisure traveler, combining top-tier service with exceptional build quality. Each location is strategically chosen for its appeal, catering perfectly to modern business needs. Key Investment Highlights include:
- Strategic Location: The property is located in one of Africa’s key travel hubs, ideal for business travelers and international tourists, blending business and leisure (“bleisure”) experiences seamlessly.
- Prime Positioning: Hotel Sky Cape Town is situated directly across from the Cape Town International Convention Centre (CTICC), which drew over 275,000 attendees in 2023. The hotel is within 1km of the Cape Town CBD’s finance district, making it highly accessible.
- High Capacity: With a large room count, the hotel is well-positioned to meet the demand generated by events at the CTICC.
- Investment Flexibility: Available for acquisition with vacant possession, providing investors flexibility with the option to keep the current management team, engage an operator aligned with their strategic goals or explore mixed-use opportunities.
- Modern Features: The hotel boasts state-of-the-art amenities, thoughtfully designed rooms, and advanced technology, enhancing the guest experience.
Location
Situation
Cape Town’s Foreshore is a strategic development hub, ideally located next to the Victoria & Alfred Waterfront and the CTICC. With excellent connectivity through major highways and the MyCiti bus network, it is a preferred destination for corporate travelers. The district benefits from substantial infrastructure investments by the City of Cape Town. Key features include:
- Prime Location: Cape Town’s Foreshore is strategically located along the scenic Table Bay waterways, adjacent to the Victoria & Alfred Waterfront, and close to the city centre.
- Key Development Hub: Anchored by the Cape Town International Convention Centre (CTICC) and major hotel chains, the Foreshore serves as the gateway to the city from Cape Town International Airport along the N2 highway.
- Corporate and Financial Focus: This district is a magnet for major corporate and financial institutions, positioning it as a central development area within Cape Town.
- Infrastructure Investments: The City of Cape Town has invested significantly in public transport, notably the MyCiti bus network, which offers convenient access across the city, connecting key areas from Atlantis to Hout Bay and Sea Point to Khayelitsha.
- Accessibility: The Foreshore is easily accessible via major highways, including the N2, M3, M61, and M62, making it a vital connection point for both tourists and commuters.
Description
Located in the bustling heart of the City Bowl, Hotel Sky is positioned in a vibrant district that attracts a global audience. The area offers a diverse and lively atmosphere with an impressive selection of restaurants, historic landmarks, and vibrant bars, all underpinned by regular security patrols.
Standing 27 storeys tall, the property is a defining feature of the Cape Town skyline. Just 2 kilometers northwest of the hotel is the renowned Cape Stadium, a FIFA World Cup venue, and the scenic Green Point Park, a popular spot among runners for its breathtaking views of the Atlantic Ocean.
The hotel boasts 535 keys, with units ranging from standard rooms to family rooms and executive suites. On-site amenities include a specialty restaurant, bar, lobby lounge, gym, spa, and a rooftop pool with magnificent views of Table Mountain and the Atlantic Ocean.
