THE FORMATION OF PROTEA HOTELS
Protea Hotels was formed on 1st July 1984, with a foundation of four managed properties, namely:
- the renowned five-star deluxe Heerengracht Hotel (Cape Town)
- the four-star graded Capetonian Hotel (Cape Town)
- Protea Gardens Hotel (Johannesburg)
- the exclusive San Lameer Resort (Natal South Coast)
EXPANSION
Through innovative strategies, a rapid expansion programme followed. The number of hotels under the Protea banner increased to 20 by the end of 1984 and to 40 by 1987, providing accommodation across the three to five-star spectrum. We currently have over 113 fine hospitality establishments in over 12 countries on the African continent.
Protea Hospitality Corporation is the largest hotel management group in Africa and boasts the most extensive network. It was rated by "Lodging" magazine, a United States publication, as the 21st largest hotel group worldwide, as per the July 2005 edition. Our brand is proudly spread throughout South Africa, as well as in London, Zimbabwe, Zambia, Mozambique, Tanzania, Malawi, Namibia, Nigeria and Russia. We are continuously exploring new and exciting opportunities for further expansion.
Management Buy-out
In 1987, the Stehlik team bought out Bankorp's share in the management and property companies. Stehlik and his six co-directors thus controlled 100% of PROTEA HOTELS. In 1994, a further five Directors were appointed to the Board of Protea Hotels.
Restructuring
On I July 1988, a holding company, PROTEA HOSPITALITY CORPORATION (PTY) LIMITED, commenced operations with three focused operating divisions:
- PROTEA HOTELS
- PLAN ONE
- PROTEA PROPERTIES
54% of shareholding goes to BEE Partners
In 2005, Protea Hotels concluded a Black Economic Empowerment transaction that sees a 54% BEE stakeholding in Protea Hotels. This exceeds the tourism BEE score card target of 30% set for the year 2014 by 24%. The stakeholding consist of 47% Protea Hotels' management, 16% POPCRU Investment Holdings, 10% WISANI (Reuel Khoza), 15% AKA Capital and 12% NAWA, the National African Womans Alliance.
This transaction brings Protea Hotels more in line with the demographics of South Africa and helps to ensure true economic empowerment. In the words of Otto Stehlik, Executive Chairman of Protea Hospitality Corporation: "With tourism playing a significant role in South Africa's strong economy, it is imperative that the industry move towards eradicating inequalities sooner rather than later, bearing in mind that this is as much about sound business principles as about ethical values".
The Empowerment Consortium consists of:
THE AKA CAPITAL
AKA Capital, a black-owned private equity and investment holding group, is the largest BEE stakeholder in Protea. This consortium is headed by Reuel Khoza and consists of the following empowerment groups:
WISANI
- Hoyohoyo Hotels & Resorts (Pty ) Limited
Hoyohoyo Hotels & Resorts (Pty) Ltd is an investment empowerment company under the leadership of Reuel Khoza. Mr Khoza is currently a Director of Stanbic and Liberty Life, as well as Chairman of Eskom, Glaxo Wellcome and Unihold.
- Prime Portfolio Investment "A"
Prime Portfolio Investment "A" is an investment company that seeks involvement in business ventures or with partners who shares its mission of job creation, skills transfer and social upliftment of the historically disadvantaged South African community.
POPCRU INVESTMENT HOLDINGS
Popcru Investment Holdings was formed by the Union Leaders of Popcru in order to enhance Black Economic Empowerment. The Union represents 70 000 men and women. Popcru Investment Holdings is 100% owned by the Union Members. All of the Investment's Management is black, whilst union membership is 95% black.
Food and Allied Workers Union (FAWU)
Basebenzi Investments (Pty) Limited, formerly known as Ikhwezi Investments, was established as a profit driven venture which would ultimately benefit all 119,000 members of FAWU, of which 99% is black.
NAWA (National African Womens Alliance)
NAWA (Pty) Ltd is a broad-based Women Economic Empowerment consortium, leading the economic empowerment and advancement of women throughout South Africa with unprecedented energy, force and commitment. Our structure is innovative and unique, being 100% owned, controlled and managed solely by previously disadvantaged African women from various professions, business and industries, throughout the country.
DIRECTORS OF PROTEA HOSPITALITY CORPORATION (PTY) LIMITED
- Otto J Stehlik - Chairman
- Arnold Cloete - Director
- Arthur Gillis - Director
- Reuel Khoza - Non-executive Director
- Mnikelwa Nxele - Non-executive Director
- Liz Sangion - Non-executive Director
- Sam Nematswerani - Non-executive Director
- Jennifer Feinburg - Non-executive Director
DIRECTORS OF PROTEA HOTELS
- Otto J Stehlik - Executive Chairman
- Arthur Gillis - Group Managing Director
- Bernard Cassar - Regional Director: Cape, Africa & Special Projects
- Gary Walker - Group Special Projects Director
- Zwilenkosi Mdletshe - Group Corporate Affairs Director (Johannesburg)
- William Ford - Regional Director: Johannesburg
- Allan Duke - Group Marketing Services Director
- Aart van der Heijden - Regional Director: Durban
- Danny Bryer - Group Sales, Marketing & Revenue Director
- Arnold Cloete - Group Financial Director
- Benjamin Memani - Group Human Resources Director
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