QG Africa Hotel LP, a Mauritius based investment fund managed by Quantum Global Investments Africa Management Ltd., has announced the acquisition of the Movenpick Ambassador Hotel Accra from Kingdom Holding Company (KHC). The transaction closed on 28 December 2016.
Quantum Global’s Group CEO, Jean-Claude Bastos de Morais, commented: “The acquisition of the Movenpick Ambassador Hotel Accra, one of sub-Saharan Africa’s most successful hotels, is a great testament to the strength of our Hotel Fund and its growing portfolio. The hospitality industry across Africa is an indicator of the vitality and attractiveness of key locations across the continent and we look to further take advantage of those opportunities and generate value added returns for our investors.”
Complementing Quantum Global’s already significant African investment portfolio, the value proposition of this transaction is underpinned by its status as one of the largest hotel and mixed use properties in West Africa, occupying an exceptional position in both business and touristic segments of the African hospitality market.
Note: The title of this post has been updated for accuracy.