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IFA secures Fairmont Hotels & Resorts for Zimbali project
- December 12, 2005, 12:18 pm
Kuwait’s IFA Hotels & Resorts (IFA) has again shown its commitment to South Africa by announcing its latest achievement in securing one of North America’s largest luxury hotel groups, Fairmont Hotels & Resorts Inc. (Fairmont) to manage its new resort in Zimbali.
This follows its strategic announcement in September to list on South Africa’s JSE. The announcement augurs well for the creation of over 2,000 jobs in the province through a project value of over US$ 250 million.
The strategic alliance between IFA and Fairmont started on Dubai’s world famous Palm Island and further extended into Africa in a Joint Venture between IFA, Fairmont and Kingdom with the recent acquisition of a Kenyan Hotel portfolio. This alliance is clearly translating into business results for South Africa where Fairmont will enter into the hospitality sector through its first venture in the country with the Fairmont Zimbali. This also creates an ideal platform for the alliance to explore other opportunities in the burgeoning South African leisure market.
Fairmont has welcomed guests since 1884 to a remarkable collection of hotels, resorts and vacation ownership homes including London’s Savoy, The Fairmont San Francisco, the Fairmont Monte Carlo and other luxury properties situated in the United States, Canada, Mexico, Bermuda, Barbados, the United Arab Emirates and now, South Africa.
Mr. Talal Jassim Al Bahar, Chairman and Managing Director of IFA, said; IFA has again delivered on its commitment to South Africa by appointing Fairmont to manage its new Zimbali development, ensuring that it brings the highest level of hospitality standards to South Africa and following on with our vision to become one of the leading foreign tourism and property investors in Africa. It is also a clear signal to investors that IFA intends to maintain its superior quality offering by partnering with some of the biggest and most respected names in the business.’
Fairmont Executive Vice President, Mr. John Johnston says, ‘This latest development marks another successful milestone in Fairmont’s management-focused growth strategy and builds upon our recent announcement to manage five renowned properties in Kenya. Our relationship with IFA has perfect synergy, with its ability to identify prime locations for development and tourism investment, and lead our joint initiatives further. We look forward to offering our clientele exceptional experiences at the Fairmont Zimbali.’
Investor confidence into the region is high - statistics from the South African Department of Economic Trade and Investment show an annualised increase of 9% with a total investment of US $ 20 billion into KwaZulu-Natal in the period 2003 to 2006.
The anticipated influx of visitors for the 2010 World Cup as well as the pending construction of the King Shaka International Airport at La Mercy, to be operational by 2009, augurs well for the development of tourism in the region. A luxury branded resort will be required in the area to manage the numbers seeking accommodation, from the holidaymaker to businessman and from family to the keen golfer.
The new Fairmont Zimbali will be developed by IFA Hotels & Resorts with a project value in excess of US$ 250 million and will consist of a luxury five star hotel, a golf course, spa and vacation ownership products, including Fairmont Heritage Place (private residence club), offering a range of ownership alternatives to suit the specific needs of each investor.
Fairmont has also been appointed to manage the recently announced Gary Player designed golf course to be constructed at Zimbali Lakes. The new signature course will be the latest addition to Fairmont’s network of award-winning greens, joining the likes of Canada’s Fairmont Banff Springs and Fairmont Chateau Whistler Golf Club, home to the David Leadbetter Golf Academy.
Player joins an esteemed list of designers that have crafted some of the finest golf courses Fairmont guests can enjoy, including Robert Trent Jones Sr. and Jr., Stanley Thompson, Greg Norman (at the soon-to-open Fairmont Mayakoba, Mexico) and Tom Weiskopf, the latter having designed the existing Zimbali Coastal course.
‘We believe Fairmont’s diversity and vast experience will bring a new dimension to the South African hospitality sector, creating the basis for other investments with Fairmont in South Africa to join its fast growing international network of luxury resorts.
‘IFA’s portfolio stretches around the world and includes the Sheraton Algarve in Portugal, The Fairmont Resorts on Palm Island, Dubai, the Movenpick Hotel & Residence Laguna Tower Dubai, the Kempinski Alabadiyah Hills in Beirut, the Zanzibar Beach Hotel & Resort, Tanzania and the opening of the YOTEL hotels in London Heathrow and London Gatwick in summer 2006 and in central London in 2007. We are also considering other projects in the Indian Ocean and Asia,’ said Werner Burger, President & COO, IFA.
Gordon Hibbert, MD of IFA’s joint venture partner Moreland Developments, comments, ‘Our partnership in the development of this premier eco-resort has added an international dimension and value to Zimbali and we are delighted and honoured that Fairmont has selected Zimbali as the destination for its pioneer project in South Africa, which will further enhance the resort’s international status.’
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