South Africa: Property group, Flyt Property Investment has acquired Wink ApartHotels from Indalo Hotels and Leisure.
Flyt Property Investment, which launched WINK Aparthotels in 2020 during the pandemic has bought the WINK portfolio from Indalo Hotels and Leisure, a third party hotel management group.
Flyt will manage all three properties under the Wink brand. The three properties are Eaton Square, in Diep River, Cape Town; a student accommodation development, WINK Quivertree in Stellenbosch, and the aparthotel units WINK Foreshore. The three properties have a total of 185 keys.
Zane De Decker, CEO of Flyt Property Investment said: “It aligns with our strategy to consolidate our assets and have direct influence on the management of our properties. We are very pleased that our offer was accepted; our time with the Indalo team has been valuable, but the time has come for us to act on our long-term strategy, as we set sight on growing our owned-and-operated portfolio.”
Indalo’s CEO, Andrew Rogers said: “We’ve developed a great partnership with Flyt and will continue to work together in sourcing and developing new hotel and leisure opportunities.”
Flyt Property Investment was founded in 2017 as a Joint Venture between Proventus Property and a larger financial partner. Under De Decker’s leadership, Flyt’s mandate is to seek and execute investment opportunities that not only create value for shareholders, but contribute positively to the built environment landscape of the Cape.
