Quantum Global acquires 5-star Mövenpick Ambassador Hotel Accra
- Mövenpick Ambassador Hotel Accra is the largest 5-star conference hotel in Ghana with extensive food and beverage services as well as conference facilities.
Quantum Global Group, a leading emerging markets-focused investment manager, has announced that it acquired 100 percent stake in Mövenpick Ambassador Hotel Accra from Kingdom Holding Company (KHC) for an undisclosed amount.
The Swiss-based company said it made the acquisition through one of its funds, QG Africa Hotel Fund, which is managed by the Mauritius-based Quantum Global Investments Africa Management. The transaction closed on December 28th last year, according to a statement released on Tuesday.
“The acquisition of the Mövenpick 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,” said Jean-Claude Bastos de Morais, Quantum Global’s Group CEO. “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.”
Sitting on 6.5 hectares of landscaped gardens in Accra’s Central Business District, Mövenpick Ambassador Hotel Accra is the largest 5-star conference hotel in Ghana with extensive food and beverage services as well as conference facilities. The hotel property also comprises retail stores and office facilities that form part of its unique environment.
Quantum Global said the value proposition of the hotel is underpinned by its status as one of the largest hotels and mixed use properties in West Africa occupying an exceptional position in both business and touristic segments of the African hospitality market.
“Mövenpick Ambassador Hotel Accra has demonstrated outstanding growth through the highly-rated and reliable delivery of world class hospitality facilities to its international and local customers,” said Adrian Leuenberger, Managing Director, Group Head of Asset Management, Quantum Global. “We are delighted with this major acquisition and are looking forward to a very promising future.”
Founded in 2003, Quantum Global is an international group of companies active in the areas of private equity investments, investment management, private wealth management, macroeconomic research and econometric modelling. The company’s private equity arm manages a family of funds targeting direct investments in Africa in the sectors such as agriculture, healthcare, hotels, infrastructure, mining and timber.
Most Popular News
- CBN grants approval-in-principle to three payment service banks
- Nigeria’s central bank retains benchmark interest rate at 13.50 per cent
- Federal High Court orders P&ID to forfeit assets to Nigeria
- Nigeria’s inflation rate drops to 11.02 per cent
- Kwik releases API for integration on merchants platforms
- Zenith Bank hosts Aspire Music Festival