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Intosol adds luxury boutique hotel in South Africa to its portfolio

Intosol has a contract to manage the hotel for the next two years and will take a 35% cut of all revenue generated in return

Lladudno beach, South Africa
Intosol has an option to buy the hotel outright for 28mln Ran (£1.6mln)

Luxury travel company Intosol Holdings PLC (LON:INTO) has added a sixth property to its growing portfolio of boutique hotels.

The company, which only listed in London back in October, has signed a two-year contract to manage the SOUL on Llandudno in Cape Town, South Africa.

The hotel has six spacious suites and sits high above Llandudno beach – widely considered one of Cape Town’s top surfing spots.

READ: Bespoke luxury hotel will be just the ticket for Brits, believes Intosol

As part of the high-end service, there are up to three members of staff for every guest.

As part of the agreement, Intosol will earn 35% commission on revenue generated, with the seller maintaining any profit.

On top of that, the company has the option to buy the hotel outright for 28mln Rand (£1.6mln), with any profits paid to the seller deducted from the purchase price.

“SOUL on Llandudno is an excellent addition to our SOUL Private Collection and I am confident that given its premier location, boutique interiors, high-end service and stunning views, it will emulate the success of our highly cash-generative flagship property, Oceans Wilderness, and provide further proof of our business concept,” said executive chairman Rainer Spekowius.

Quick facts: Intosol Holdings PLC

Price: 22.5 GBX

LSE:INTO
Market: LSE
Market Cap: £2.97 m
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