Business Times this week made several unsuccessful attempts to find out if the German company that owns the resorts and hotels, which include the 483-room, five-star Westin Grand at Cape Town's V&A Waterfront, had sealed the deal with listed Hospitality Property Fund for more than R700 million.
The Hospitality Property Fund, which among its assets includes the Crowne Plaza in Rosebank and the Holiday Inn in Sandton, has been in advanced negotiations since June.
The sale process, which was expected to have been concluded last month, was scheduled to go through a bidding process administrated by Deutsche Bank. Hospitality Property Fund is believed to have offered just over R700 million.
However, executive management at Arabella Starwood Hotels and Resorts are mum about whether the sale has gone through.
On Monday, marketing director Philma Gomes referred questions to chief operating officer Friedrich Schaefer's office.
On Wednesday, Schaefer's executive secretary, Angelika Hammel, said in an e-mail: "I passed it on to our legal adviser who will get back to you."
In November last year, the Munich-based company, Schoerghuber Corporate Group, said it was selling the SA operations because it wanted to focus on its European market. At the time, Riaan Gous, the group executive director of Arabella SA Holdings said the group had decided to sell its local operations after a business review.
The operations include the Westin Grand Arabella Quays in Foreshore, Cape Town, and the 145-room, five-star Arabella Western Cape Hotel and Spa in Kleinmond, which features an 18-hole golf course.
Arabella SA Holdings is a wholly-owned subsidiary of Schoerghuber Corporate Group.
Staff at all the group's local hotels were reportedly informed of the decision in November via an e-mail from Schaefer's office.
Source: Business Times
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