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Cape Town to get new accommodation options

Cape Town to get new accommodation options
27 Jan 2014

Travellers and tourists looking to experience the wonderful attractions offered by Cape Town will have more options for accommodation come 2015, with the V&A Waterfront announcing its intentions to develop a mid-market internationally-branded hotel for the area over the coming year.

According to Cape Town Tourism, the new property will help the city to support continued demand for tourism in the location, which is predicted to rise year-on-year by around 3% per annum until 2030.

Cape Town already receives more than 24 million visitors a year, and is recognised as an economic powerhouse that has contributed around R200 billion to South Africa's gross domestic product in the last ten years.

David Green, chief executive of the V&A Waterfront said of the venture: 'Given the growth in domestic, business and leisure tourism, coupled with consistent growth in the occupancy at our current hotels over the past 18 months, we believe the opportunity exists for a mid-market hotel development.'

The V&A Waterfront is a stretch of beach that offers myriad entertainment options for the casual holidaygoer, from five-star hotels to restaurants serving all manner of excellent cuisine.

Mr Green acknowledged the high number of premium venues in the area, stating: "The V&A Waterfront continues to attract a premium in rates and higher-than-average occupancies.'

He added that it was for this reason that Cape Town Tourism believe a mid-market hotel will do particularly well in the area, meeting demand and credibly adding to the portfolio of the area.

The majority of Cape Town's source markets are European, although the future could see Latin America transforming into the dominant market as it is expected to grow exponentially over the next few years.ADNFCR-408-ID-801686876-ADNFCR

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