South Africa: Cape Town-based WINK Aparthotels has been acquired by Afrirent Holdings (Pty) Ltd, a 100 per cent black, female-owned company, via its subsidiary Indalo Hotels and Leisure.
“The primary driver for the acquisition is to see growth beyond Cape Town for the WINK brand and to become a major player in the serviced apartments and long-stay markets,” said WINK general manager Lauren Barnard.
WINK Aparthotels currently operates two locations: WINK Foreshore and WINK Eaton Square in Diep River, with an additional two properties in the pipeline.
CEO of Afrirent Holdings Senzo Tsabedze says that besides being a perfect fit for the group’s business model, the main aim is to elevate the WINK Aparthotel brand and roll out its offering throughout South Africa.
The company structure and management will largely remain the same, falling under the leadership of Barnard and her team, working closely with Andrew Rogers, CEO at Indalo.
Zane de Decker, managing director of Flyt Property Investment, said: “The sale of the business to Afrirent via Indalo, whose focus is on high-end international and domestic tourism and travel, is a solid decision that will benefit both WINK and its shareholders and see the brand flourish even more.”
WINK Aparthotels will continue to operate and manage all future properties in the Flyt Property Investment portfolio in Cape Town.
