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Home » Industry News » Multi-billion rand hotel investment announcement

Multi-billion rand hotel investment announcement

The world’s largest hotel company is showing its commitment to the future of South Africa, through a multi-billion Rand investment partnership, with a local developer that will create massive employment opportunities, and attract more visitors from around the world to our shores.

Marriott International and the Amdec Group are announcing the build of three new hotels in Cape Town. The R2bn investment to the city, will provide employment for over 5,000 people over the construction period, and will employ close to 500 people on completion, and will definitely have a knock-on effect of creating other service industry related jobs. A further R1bn rand is being invested in builds in Johannesburg.

Two of the most significant figures in the world of hospitality, Arne Sorenson, the CEO of Marriott International, and Alex Kyriakidis,President and Managing Director, Middle East and Africa, for Marriott International, will be in South Africa and will speak about why they believe investment in South Africa and Africa makes financial sense. In addition, James Wilson, the CEO of the Amdec Group, a privately owned local business that has recently expanded its operations internationally, will speak about the mulita-billion Rand joint venture. They will be joined by Alan Winde, MEC of Economic Development and Deputy Mayor Ian Neilson.

The announcement is particularly encouraging economic news since it reflects confidence in the country by a global corporation, and promises to strengthen our tourism industry and to create a substantial number of new jobs for local people.

The details of the event are:

  • Venue: AC Hotel by Marriott Yacht Club Development Site – V&A Waterfront (Further details to follow)
  • Date: Friday, 7 October
  • Time: 09:45 – 11:00 am
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