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The Liz McGrath Collection has signed an agreement to acquire the Cellars-Hohenort Hotel in Cape Town, the Marine Hotel in Hermanus and the Plettenberg Hotel in Plettenberg Bay from the McGrath family, who will retain a minority interest.
Completion of the transaction will take place when the asset transfers have been registered with the land registry office. Liz McGrath Collection will take over all the employees of the hotels and central management. James B. Sherwood, Director of Liz McGrath Collection, has indicated that there will be no changes in management or operation of the hotels. There are also plans to expand the number of the rooms and facilities to meet demand.
Joining Sherwood as Directors are, Nicholas Seewer, who was General Manager Africa and Mount Nelson Hotel for Orient-Express Hotels; Fred Alger, founder of Fred Alger Management; Ingrid Wheeler and Michael McGrath.
Sourse: tourismupdate.co.za
