Sun International will continue to manage it.
The V&A Waterfront’s iconic Table Bay Hotel, which will soon undergo renovations with a R1 billion price tag, will start operating under the InterContinental Hotel Group (IHG) banner at the end of next year.
The announcement was made in a joint statement by the UK-based IHG, the V&A Waterfront and Sun International.
The Table Bay is owned by the V&A Waterfront, which in turn is jointly owned by Growthpoint Properties and the Public Investment Corporation on behalf of the Government Employees Pension Fund.
Management and ownership
Sun International has managed the iconic five-star facility since its opening in 1997 and will continue to manage it on behalf of InterContinental under a hotel management agreement.
Graham Wood, chief operating officer at Sun International, tells Moneyweb the lease agreement it had in place for the hotel expires at the end of February 2025. The V&A Waterfront wants to invest in refurbishments and asked Sun International to manage it under the IHG franchise going forward.
David Green, CEO of the V&A Waterfront, says more than R1 billion is going towards refurbishing and converting the Table Bay into an InterContinental Hotel.
That will mean an ownership structure change, says Wood. “Sun International was responsible for maintenance and capital expenditure. We paid rent as part of the lease agreement and the residual profit was for Sun International’s account.
“In future, Sun International will earn management fees, while the profits will go to the V&A Waterfront.”
Extensive renovations
Regarded as one of the Mother City’s most luxurious hotels, the Table Bay will undergo extensive renovations starting at the end of February next year as part of the Waterfront’s multibillion-dollar redevelopment project.
Wood says the Table Bay will be closed during this period and is expected to reopen around December 2025.
“It’s a substantial refurbishment. The hotel will be 27 years old by the time it closes. The renovations will be according to certain brand standards and requirements as it will be an internationally branded modern-day luxury establishment.”
Once completed, the hotel will sport 306 rooms, including 45 new guest suites, with views of the Cape Town Harbour, Table Mountain, and the Atlantic Ocean. It will have a new elevated pool bar and terrace, a signature spa, and an InterContinental Executive Loyalty Club Floor and Lounge. The reception areas and restaurants will also be refurbished.
‘Best address in Cape Town’
Haitham Mattar, managing director of the IHG Hotels & Resorts division for India, Middle East and Africa, says the group is excited to work with the V&A Waterfront and Sun International on maintaining the Table Bay Hotel’s “legacy”.
Dubbed “the best address in Cape Town” because of its views over the harbour and Table Mountain, Table Bay was inaugurated by the late president Nelson Mandela in May 1997.
With the rebrand, Table Bay Cape Town will also be a part of the global IHG One Rewards Loyalty programme.
Green is of the view that the IHG’s global expertise and standards, as well as the loyalty programme, will attract additional international visitors to Cape Town.
The loyalty programme offers members from across the world access to special rates and other perks, such as earlier check-in and later check-out times, as well as occasional room upgrades.
“We are confident that the prestigious InterContinental brand will elevate the hotel’s standing and bolster the overarching tourism ambitions here in Cape Town,” Green adds.
The Table Bay is located in the centre of the V&A Waterfront, and guests have direct access to the various shops, restaurants and other attractions.
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