JOHANNESBURG – QUANTUM Global Africa Hotel LP, a Mauritius-based fund, has acquired 100 percent interest in the InterContinental Hotel Lusaka from Kingdom Hotel Investments in a deal worth US$35,9 million.

The transaction closed on March 31.

Jean-Claude Bastos de Morais, Founder of QG Global commented on the first acquisition of QG Africa Hotel LP.

“It underlines our commitment and investment strategy for the hotel sector in Sub-Saharan Africa,” he said.

“The InterContinental Lusaka is strongly established locally and will benefit from the planned refurbishment that will expand and reposition the asset, thereby generating value added returns for our investors.”

Considered a city landmark, the InterContinental Hotel Lusaka is situated at a prime location in Zambia’s capital.

The 244-room hotel benefits from a strong image amongst international travellers, and offers significant repositioning and expansion potential.