Cape Town

Tourism Tattler - - BUSINESS & FINANCE -

Cape Town re­mains South Africa's most pop­u­lar des­ti­na­tion when it comes to do­mes­tic and in­ter­na­tional vis­i­tors – show­ing a new record: Cape Town In­ter­na­tional Air­port reached 10 mil­lion pas­sen­gers on the 28th Dec 2016 since the be­gin­ning of the year for the first time. Nu­mer­ous planned ho­tel open­ings and an in­creased ca­pac­ity for in­ter­na­tional di­rect flights through Ethiopian Air­lines, Kenya Air­ways, KLM, Air France, Lufthansa, Bri­tish Air­ways, SA Air­link and more show that in­vestors think the same. The lux­u­ri­ous and ex­clu­sive Silo opened its doors on the 1st March this year and the very first Radis­son Red in Africa is planned to be ready for busi­ness in Septem­ber in the newly de­vel­oped ‘Silo District' of the V&A Wa­ter­front. The lo­cal chain Tsogo Sun caught up to the trend and is cur­rently de­vel­op­ing a 504-bed­room ho­tel com­plex which is aimed to be com­pleted in Septem­ber this year as well. This large amount of new sup­ply will cause oc­cu­pancy lev­els to drop in 2017 and it will take some time for the sup­ply to be ab­sorbed and the mar­ket to pick up again, but growth is ex­pected to look pos­i­tive for 2019 and 2020 again. For de­tailed anal­y­sis visit http://hvi.hvs.com/mar­ket/africa/South_Africa_-_Cape_Town

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