The Public Service Pensions Fund – PSPF, a state owned pension fund that caters for pensionable public service employees, has selected Radisson Hospitality AB, a publicly listed company on Nasdaq Stockholm – Sweden, to manage its hotel which is among the mixed – use development it is undertaking located at Lusaka’s suburb, Longacres.
Speaking in a phone interview with Zambia’s premier business news provider the Zambia Business Times – ZBT on 23 May from OR Tambo International Airport in – Johannesburg – South Africa, the PSPF’s Head of Projects – Mr. Francis Nyirenda in transit from signing the deal in Cape Town, said that a total sum of USD72million has been invested in the full construction of the mixed – use development that includes this very hotel, a shopping mall, an entertainment center and an office park.
“The construction of the Hotel with Radisson Park Inn will not only result in a good return for the pension contributors, members and pensioners, but will also keep up with the governments strategic goal of improving the number of bed spaces in Lusaka” Nyirenda said. He further intimated that the deal signed with Radisson to form part of a mixed-use development will also support the growing need for world class hotel accommodation in Lusaka the capital.
Nyirenda stated that Radisson was selected among other possible global hotel brands due to its reputation in the hotel industry. We looked at other possible hotels to partner with – as this agreement involves the awarding of a management contract to run the hotel, it will be more on management fees and revenue share with clearly agreed performance targets.
Radisson is a renowned hotel operator, which is running hotels globally with a successful brand. The PSPF however looks at this management agreement to support its investment for the country and support Zambia’s development trajectory. With a national airline in the pipe line, a new international terminal at the Kenneth Kaunda International Airport – KKIA being constructed, appetite for room occupancy is fairly forecasted to be high. The new airport provides for an expanding ground handling facility in the quest to create a regional transport hub that will propel demand for hotel accommodation higher. All this will be on account of increased passenger numbers as traffic soars higher.
And a media statement shared with ZBT by Radisson Blu stated that the Hotel group is adding a new territory to its expanding portfolio with the signing of Park Inn by Radisson Lusaka Longacres in Zambia. Radisson reiterated that the hotel will be situated in a prime location within the Lusaka city’s concentration of embassies, diplomatic missions and United Nations (UN) offices.
Elie Younes, Executive Vice President and Chief Development Officer for the Radisson Hotel Group, said: “We are delighted to bring Park Inn by Radisson to Zambia, where tourism is growing. Having successfully operated in Zambia since 2012 with Radisson Blu, we now look forward to introducing Park Inn by Radisson, our upper mid scale brand in this emerging market.”
The 135-room Park Inn by Radisson Lusaka Longacres will open in 2020 and will offer a mixture of standard rooms and suites, along with an all-day dining restaurant and bar. The meetings and events area will include one ballroom, three (3) meeting rooms and a boardroom. The hotel will also house a well-equipped gym.
Zambia’s relatively peaceful political environment which has seen peaceful power transitions has continued to attract notable brands with top hotels eyeing the market. Its central location and land-linked position offers an attractive proposition for global players that do business across east, central and southern Africa.
This function has been disabled for Anakazi Banking.