Shimmy Luxury Collection now the sole operator of The Ritz

This conclusion is yet another milestone for the newly formed, equity-based management company which launched earlier this year with its announcement of the redevelopment of the iconic Ritz Hotel in Sea Point. The aim of SLC is to offer superior management solutions by vertically integrating into the business and securing the best possible teams comprising of industry leaders and hospitality stalwarts to support this.

"Our company ethos is simple – we invest in the businesses we manage and ultimately operate as business partners and not simply as a management company. This commitment is evident in both our initial outlay of over R120 Million into the refurbishment of The Ritz and subsequent full management buy-out," says CEO, Nicky van der Walt.

"Our management team has been working closely with key tourism industry experts and role-players and we have great faith in their ability to guide our new and old partners through this period of transition," continuesVan der Walt.

Due to the fact that the room configuration and quality of the overall Ritz experience will be changing significantly, a review of all 2016 rate agreements will be conducted and engagement with tourism partners planned accordingly.

The Ritz is speculated to be not only a hospitality solution to the growing demand in Cape Town, but as a destination in its own right.