Witbank 4-Star Hotel Project | South Africa - WIT001

USD 15,000,000

Spent so far: USD 1,000,000

Can spend more: No

South Africa

Commercial RE Hospitality Hotels/Resorts Leisure/Recreation

Assured repayment by: Independent and credible feasibility study | Operations & Management Agreement | Other Off-Take Agreement

Shovel Ready Indicators:

LTV Expectation: 100%

Land/Site: Owned

EPC Contracts: Signed

PPA/OMA or other off-take agreements: Signed

Financial Projections: Completed and available

Most PFX listed opportunities qualify for A+-rated Insurance Wrap

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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