Futuregrowth buys stake in Thebe Tourism Group, South Africa
Asset Manager Futuregrowth has put its vote of confidence in the tourism industry by buying a significant stake in Thebe Tourism Group in South Africa. Although the sector has been one of the hardest hit during COVID-19, the properties owned by Thebe Tourism position it well for the industry’s inevitable recovery from the challenges it has faced.
mrish Narrandes, Head of Unlisted Equity Transactions at Futuregrowth said: “We believe strongly that the tourism industry will return to its former glory post-COVID and, given the quality of the assets of the group, feel Thebe Tourism is well-positioned to capitalise on the eventual resurgence of the sector. With a total GDP contribution of around 9% and over 1.5 million jobs supported, the tourism sector will continue to be an instrumental contributor to the South African economy.”
Kearon Gordon, Investment Analyst at Futuregrowth said: “The diversity of the Thebe Tourism portfolio of assets means it appeals to both local and international tourists, while giving both groups access to the best experiences South Africa has to offer. Furthermore, the practice of managing such iconic destinations has equipped the management team with the knowledge and skills to continue growing the business.”
Included in the Thebe Tourism portfolio is ownership of the concession to the iconic Cape Point, a Cape Town tourist destination near the top of the list of must-see destinations for locals and international travellers alike. The Group also owns the newly launched innovative Kruger Shalati “train on a bridge” Hotel overlooking the Sabie River in the Kruger National Park. The hotel spans the bridge, where visitors can relax in a hot tub overhanging the river while watching elephants and other wildlife coming down to the river banks to drink.
Thebe Tourism will also soon be launching Sanctuary Mandela, a boutique hotel that gives visitors the opportunity to stay in Nelson Mandela’s Houghton home. People who were part of his life will provide guests with a unique glimpse into the stalwart’s life. The grand opening, COVID willing, is set to take place on Freedom Day, 27 April 2021.
To capitalise on the growing “glamping” trend, Thebe Tourism has also invested in Chiefs Tented Camps. This luxury tented camp operator recently secured a concession to operate two new camps in the Kruger National Park and one in the Knysna Forest on the Garden Route.
