Grace Hotel goes to Southern Sun

Pending Competition Commission approval, Hyprop Investments has sold the Grace Hotel and office building in Rosebank to Southern Sun. "The property and buildings are situated in the Rosebank node, which has good growth potential and where the group is not presently represented. This acquisition is consistent with our business philosophy - to own and operate our own hotels," says Graham Wood, MD, Southern Sun Hotels. "We are excited to add another boutique deluxe hotel to our portfolio and we intend to rebrand and re-launch the 73-room 5-star boutique hotel in the first quarter of 2012."