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Protea Hotels by Marriott

From Wikipedia, the free encyclopedia

Protea Hotels
Hotels
IndustryHospitality, Hotels, Tourism
Founded1984[1]
FounderOtto Stehlik
Number of locations
nearly 100 in 9 African Countries
ProductsTemporary residence
WebsiteHomepage

Protea Hotels by Marriott is a South African hotel and leisure company headquartered in Cape Town, South Africa. As of 2018, it was the largest hotel company on the African continent, with nearly 100 properties in nine countries.[2] The company was named for the flowering plant Protea, which is unique to South Africa, and its logo features a representation of the flower.

History

The company was founded in 1984[3] by Otto Stehlik and six business associates. At that time, the founders held 40% of the stock, the remaining 60% being held by Bankrop, now part of Barclays Africa Group. At the time of its founding, the company had four properties under management; two in Cape Town, one in Johannesburg and one in KwaZulu Natal South Coast.

In November 2013, Protea Hospitality Holdings, the holding company of Protea Hotels, signed a letter of intent, to be acquired by Marriott International, the parent company of Marriott Hotels. The acquisition was approved by regulatory agencies in the relevant nations,[4] and on January 22, 2014, it was announced that Protea had been sold for $186 million.[5]All hotels controlled by PHH have since been rebranded as Protea Hotels by Marriott, but retaining the historic protea-flower logo.

Locations

The company owns, manages or franchises three, four and five star properties in nine African countries. The majority of its properties are located in South Africa, where the company was founded and where it maintains its headquarters. Other countries of operation are Algeria, Ghana, Malawi, Namibia, Nigeria, Tanzania, Uganda and Zambia.

See also

References

  1. ^ https://www.news24.com/Travel/South-Africa/Marriott-to-buy-Africas-largest-hotel-group-20131108
  2. ^ "ABOUT PROTEA". Protea Hotels. Retrieved 2018-12-09.
  3. ^ https://www.news24.com/Travel/South-Africa/Marriott-to-buy-Africas-largest-hotel-group-20131108
  4. ^ Marriott International Set To Acquire Protea Hotels
  5. ^ https://www.hotelmanagement.net/transactions/marriott-buys-protea-hospitality-for-186m

External links

This page was last edited on 9 December 2018, at 11:44
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