Rezidor extends partnership agreement with Mvelaphanda Holdings (Pty) Ltd, South Africa

Brussels, Belgium | February 03, 2010

The Rezidor Hotel Group extends and broadens the partnership agreement with Mvelaphanda Holdings (Pty) Ltd, South Africa. Their existing Joint Venture covering the management of the Radisson Blu Hotel Waterfront, Cape Town will be extended to all existing and future Rezidor hotels in South Africa, Lesotho and Swaziland, and will cover all Rezidor brands.

"Mvelaphanda as a black empowered company and significant player on the South African market is the ideal partner for Rezidor's operational business and development in the region", comments Kurt Ritter, President & CEO of Rezidor. "We recently have inaugurated a new Regional Office in Cape Town under the leadership of Maarten Van Den Nieuwenhuijsen, Regional Director Southern Africa. This office launch and agreements like the one with Mvelaphanda bring us closer to our owners, and further strengthen our leading position in the African market and our future development", continues Ritter. Rezidor's global long term strategy includes a strong focus on emerging markets like the African continent where the group currently has 28 hotels with more than 5,800 rooms in operation and under development across the region, and sees a huge potential for further projects.

The Joint Venture with Mvelaphanda will cover the following properties: Radisson Blu Hotel Waterfront, Cape Town (177 rooms), Radisson Blu Hotel Sandton, Johannesburg (301 rooms), Radisson Blu Hotel Port Elizabeth (173 rooms), Radisson Blu Gautrain Hotel, Sandton Johannesburg (200 rooms, opening in 2010), Park Inn Sandton, Johannesburg (269 rooms, opening in 2010), Hotel Missoni Cape Town (157 rooms, opening in 2011), and Radisson Blu Hotel Blaauwberg, Cape Town (144 rooms, opening in 2010).

Mvelaphanda is a diversified investment company - founded in 1997 by South Africa's current Minister of Human Settlements, Tokyo Sexwale. The company is active across a range of sectors - from natural resources and energy through banking, financial services, tourism, healthcare, logistics, industrial services, and security. Mvelaphanda is a black-owned enterprise and as such influential in South Africa where "Black Economic Empowerment" (BEE) is increasingly emphasized.

"Rezidor and Mvelaphanda have built up a strong relationship in the past 9 years, which resulted in the formalization of this multinational partnership. We are of the opinion that our relationship could unlock potential in the hospitality industry, within the countries that we will be working together. Mvelaphanda will be an active role player in the new partnership. The focus will be to assist Rezidor in the identification, development and management of hotel properties", comments Mark Willcox, CEO of Mvelaphanda.

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