Witbank 4-Star Hotel Project. South Africa. - WIT001

The proposed brand to be used is a Marriott brand, that is well known to South Africa, and will operate in the 4-star grading rating - A contract with Marriott has already been signed. The brand chosen is not currently in the area of Witbank and the nearest being some 210km from the site. The proposed hotel will consist, in total, of 128 rooms and the site is situated within one of the busiest shopping centres, not only in Witbank, but in the surrounds. Bringing with it many added advantages. The IDC of South Africa has already expressed its interest in funding 50% of the project, through equity funding - and so, the current owner and developer would be seeking a further 50% equity funder. The option for 100% is also available to the funding party.
USD Year 1 Year 2 Year 3 Year 4 Year 5
Turnover
3 612 466
4 462 124
5 168 770
5 972 124
6 884 460
EBITDA
1 459 941
2 072 214
2 509 387
3 057 841
3 637 933
%
40,4%
46,4%
48,6%
51,2%
52,8%
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