QG Africa Hotel, a Mauritius based investment fund managed by Quantum Global Investments Africa Management, has acquired a 100% stake in Mövenpick Ambassador Hotel Accra for a consideration of $100m from Kingdom Holding Company (KHC). 

The transaction, which closed on December 28, 2016, marks the most sizable open-market hotel transaction in sub-Saharan Africa to date.

KHC continues to be a stakeholder in this asset through its interest in the management company Mövenpick Hotels & Resorts, which will continue to operate the hotel.

Jean-Claude Bastos de Morais, Quantum Global’s Group CEO, said: “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.” 

“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,” he added.

Complementing Quantum Global’s already significant African investment portfolio the value proposition of this transaction is underpinned by its status as one of the largest hotel and mixed use properties in West Africa occupying an exceptional position in both business and touristic segments of the African hospitality market. 

Sitting on a 16 acres (6.5 hectares) site of landscaped gardens in Accra’s Central Business District, Mövenpick Ambassador Hotel Accra comprises extensive food and beverage as well as conference facilities making it the largest 5-star conference hotel in Ghana. 

The property is also complemented by retail as well as office facilities that form part of a unique environment, valued by tenants as well as hotel guests,

Adrian Leuenberger, Managing Director, Group Head of Asset Management, Quantum Global, said: “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. We are delighted with this major acquisition and are looking forward to a very promising future.”

QG Africa Hotel LP is a $500m investment vehicle, which aims to capitalize on the emerging opportunities in the hospitality sector.

The fund is a long-term direct equity investor in hotel projects across sub-Saharan Africa, including greenfield and brownfield operations.

The investment activities include construction, conversions, acquisition and renovation of hotel projects across sub-Saharan Africa. 

Quantum Global is an international group of companies active in the areas of private equity investments, investment management as well as macroeconomic research and econometric modelling. 

Quantum Global’s private equity arm manages a family of funds targeting direct investments in Africa in the sectors of Agriculture, Healthcare, Hotels, Infrastructure, Mining and Timber – as well as a sector agnostic Structured Equity Fund.