INTOSOL Holdings Plc - New Boutique Hotel in South Africa Strengthens Portfolio
PR Newswire
London, March 18
INTOSOL Holdings Plc / Ticker: INTO / Index: LSE / Sector: Travel & Leisure
19 March 2019
INTOSOL Holdings Plc ('INTOSOL' or the 'Company')
New Boutique Hotel in South Africa Strengthens Portfolio
INTOSOL Holdings Plc, the award-winning international luxury travel company, is delighted to announce that it has signed a management contract for SOUL Rainbow's End, a luxury three-bedroom boutique hotel located in Knysna in the Garden Route in South Africa. The addition of SOUL Rainbow's End to INTOSOL's SOUL Private Collection (www.soulprivatecollection.com) of owned and managed boutique hotels is in line with Company strategy of increasing revenues and margins.
Under the favourable terms of the two-year management contract, INTOSOL will manage and market the property worldwide with all profit generated subject to a profit share agreement. SOUL Rainbow's End will operate as a boutique hotel on a full board basis with a concierge service on-site to cater to all guest requests. There will also be the option for guests to rent the whole hotel on an exclusive basis. The property offers great potential for growth and development, with space to extend the building and with ample grounds to set up additional luxury tented camps.
INTOSOL Executive Chairman, Rainer Spekowius, said:"SOUL Rainbow's End could be our most spectacular property yet. The hotel has one of the most desirable locations in the Garden Route, being the only property situated on the Western Knysna Head offering guests direct access to the Featherbed nature reserve and the amazing experiences it has to offer. The exclusive nature of SOUL Rainbow's End is evident on arrival, as guests are transferred by water taxi across the Knysna Lagoon to the premises and then enjoy a short golf-car ride to the villa's entrance.
"The addition of SOUL Rainbow's End enhances the SOUL Private Collection offering, which boasts a variety of properties for our clients to enjoy across South Africa. SOUL Rainbow's End provides a new revenue and profit stream for the Company, and in the longer term it offers opportunity for further expansion. Additionally, we continue to assess other opportunities for the development of the portfolio. I look forward to providing updates on SOUL Rainbow's End and across our SOUL Private Collection in the coming weeks."
Further Information on INTOSOL's SOUL Private Collection
INTOSOL's SOUL Private Collection includes two properties in Cape Town, South Africa: SOUL on Llandudno (www.soulonllandudno.co.za) and Penthouse on Beach (www.penthouseonbeach.co.za).
The flagship property in the portfolio, Oceans Wilderness (www.oceanswilderness.co.za), which reported a strong maiden financial performance in its first year of operation, is located on the Garden Route along with SOUL Rainbow's End. The Company also owns a site to build the Leadwood Safari Lodge in the Leadwood Big Game Estate (www.leadwood.net), one of the premier locations globally to see the Big Five in the wild.
**ENDS**
For further information on INTOSOL visit the Company's website www.intosolholdingsplc.com or contact:
| Rainer Spekowius Executive Chairman | INTOSOL Holdings Plc | Tel: +44 (0) 20 7236 1177 |
| Charles Goodfellow / Martin Lampshire (Corporate Broker) | Peterhouse Corporate Finance | Tel: +44 (0) 20 7220 9791 |
| Juliet Earl / Gaby Jenner (Financial PR) | St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
Notes
INTOSOL Holdings PLC is a London listed international luxury travel company that merges private travel design with hotel management and property ownership to provide bespoke, high-end global travel experiences across the world. Its profitable private design business which blends personal contact with proprietary technology, VIRTOSOL, already services a growing client base of over 15,000 and the Company is focussed on further expansion into English-speaking markets. To increase margin and asset backing, it is building its SOUL Private Collection of leased and owned boutique properties. In line with this, it is in the process of purchasing and developing a number of sites in South Africa including Oceans Wilderness, a luxury nine-bedroom boutique hotel in the Garden Route and a commercial safari lodge in the renowned Leadwood Big Game Estate, one of the premier places to see the Big 5.
The luxury travel market continues to grow and tends to be immune to economic fluctuations, with high-end customers favouring bespoke and exclusive experiences regardless of the greater economic climate. INTOSOL is ideally positioned to capitalise on this trend and execute its growth strategy to become a leading bespoke travel company with an international client base, a global experience portfolio and a range of high-end properties across the world providing high margin revenue and asset backing.
