A mid-market, internationally branded hotel will be developed at the V&A Waterfront this year.
The V&A is currently home to six five-star hotels, two four-star hotels and two three-star hotels.
‘’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,” said David Green, CEO of the V&A Waterfront.
According to Cape Town Tourism, tourism growth in the city this year is expected to be 4%-5%. The United Nations World Travel Organisation estimated a global year-on-year increase of 3.3% per annum until 2030. For Cape Town, the majority of source markets are European, while the biggest growth market is set to come from Latin America.
