Investment company, Futuregrowth Asset Management, has confirmed that it has taken a “significant stake” in Thebe Tourism Group.
“Although the sector has been one of the hardest hit during COVID-19, the iconic properties owned by Thebe Tourism position the company well for the industry’s inevitable recovery from the challenges it has faced,” reads a Futuregrowth press statement, highlighting that the acquisition is a “vote of confidence” in the tourism sector.
“We believe strongly that the tourism industry will return to its former glory post-COVID and, given the quality of the assets of the group, feel Thebe Tourism is well-positioned to capitalise on the eventual resurgence of the sector,” said Amrish Narrandes, head of unlisted equity transactions at Futuregrowth.
Diverse tourism portfolio
Included in the Thebe Tourism portfolio is ownership of the concession to Cape Point, a Cape Town tourist destination near the top of the list of must-see destinations for locals and international travellers alike.
The group also owns the newly launched Kruger Shalati ‘train on a bridge’ Hotel overlooking the Sabie River in the Kruger National Park. The hotel spans the bridge, where visitors can relax in a hot tub overhanging the river while watching elephants and other wildlife coming down to the river banks to drink.
According to Kearon Gordon, investment analyst at Futuregrowth, Thebe Tourism will also soon be launching Sanctuary Mandela, a boutique hotel that gives visitors the opportunity to stay in Nelson Mandela’s Houghton home.
“People who were part of his life will provide guests with a unique glimpse into the stalwart’s life. The grand opening, COVID willing, is set to take place on Freedom Day, 27 April,” said Kearon.
To capitalise on the growing “glamping” trend, Thebe Tourism has also invested in Chiefs Tented Camps. This luxury tented camp operator recently secured a concession to operate two new camps in the Kruger National Park and one in the Knysna Forest along the Garden Route.
“This purchase is more than just an acquisition. Investing in the tourism business gives hope to not only those who work for us across all these products, but also to others in the industry who fear that this sector has no more room for growth,” said ceo of Thebe Tourism, Jerry Mabena.
Thebe Tourism gm, Brett Hendricks, added: “We are extremely excited and proud to partner with Futuregrowth, who believe in our vision and passion, and together we aim to grow and transform the tourism industry.”
