South Africa: Luxury travel company Intosol Holdings PLC has added the SOUL on Llandudno hotel in Cape Town to its portfolio.
Under the terms of the two-year management contract, Intosol will earn 35 per cent commission on revenue generated. Intosol has an option to buy the property for ZAR28 million, equivalent to around £1.5 million, with any profits paid to the seller deducted from the purchase price.
“Since listing in London in October, we have made excellent progress developing our portfolio, building our client base and strengthening our team. SOUL on Llandudno is an excellent addition to our SOUL Private Collection and I am confident that given its premier location, boutique interiors, high-end service and stunning views, it will emulate the success of our highly cash-generative flagship property, Oceans Wilderness, and provide further proof of our business concept,” said Intosol executive chairman Rainer Spekowius.