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UNITED AFRICA GROUP & PROTEA HOTELS JOINT VENTURE - 31 March 2006
The United Africa Hospitality Group has formed a joint venture with Protea Hospitality Corporation forming a new entity, namely Protea Hotels Namibia. Owning 49% in this joint venture, Protea Hotels will add United Africa's four properties to its present portfolio of two hotels in Namibia that have been managed to-date under the Protea Hotel 130 strong collection.
The agreement will see Protea Hotels Namibia managing a number of hospitality units in Namibia, Angola and Ethiopia. These properties include the four hotels that are presently part of the United Africa Nambia portfolio, namely the Hotel Fürstenhof in Windhoek, Pelican Bay Hotel in Walvis Bay, Sea-View Hotel Zum Sperrgebiet in Luderitz and the Pandu Ondangwa Lodge. In addition to the current portfolio, the Billion-Dollar luxury Eliakim Namundjebo Plaza complex in Windhoek will be added to the portfolio.
To further ensure a strong presence in Namibia, Protea has identified additional properties that fit the profile of the newly-formed company and are in the process of negotiating to add these units to the portfolio. "It is essential that we have a strong presence, to show our commitment to Namibia and to be able to offer a broad spread of properties," explained Otto Stehlik, Executive Chairman of Protea Hospitality Corporation.
Protea Hotels Namibia will be headed by Regional General Manager Graham Howard, who is currently running the United Africa's chain of hotels. All existing hotels will undergo a name change to promote the corporate identity of the Protea Hotel Namibia brand in accordance with the groups' recognized standards.
Protea Hotels Nambia expects to expand across the borders of Namibia to include Angola and Ethiopia. They believe that the potential to expand is limitless and are currently in negotiations in Angola and hope to secure properties in Ethiopia in the near future too.
This exciting venture helps to accelerate the dream of Haddis and Martha Tilahun to have a chain of superior hotels spread across the continent. It also provides access to a large foreign customer base in keeping with the high standard already adhered to by the United African Hospitality Group.