Singita Concludes Deal With Dubai World
OCTOBER 31, 2008. Singita Game Reserves has successfully concluded an agreement that sees Dubai World acquire 50% of Singita's interest in their Kruger National Park concession, incorporating two Relais & Chateaux lodges - Singita Lebombo and Singita Sweni. The new ownership structure will not give rise to any change in the management and marketing of the operations, which will continue to be contracted to Singita's management company.
Luke Bailes, CEO of Singita says: 'Working with one of the world's leading global investment companies bodes well for Singita Game Reserves. Dubai World has accessed and sourced great opportunities in Africa and this deal could pave the way for us to explore the possibilities of more new tourism ventures together.'
Situated at the confluence of the Nwanetsi and Sweni Rivers, the
33,000 acres property is situated along South Africa's border with Mozambique on the far eastern reaches of the Kruger National Park.
Both lodges boast spectacular scenery teeming with the highest concentration of wildlife in the entire Kruger National Park. Singita Lebombo offers 15 luxurious, fully air-conditioned wood and glass loft style suites with light, contemporary interiors, whilst the more intimate Singita Sweni Lodge has 6 exclusive suites set in cool, dappled shade on the river bank. The use of African artifacts, leather and khaki lend a more classic safari feel to Sweni Lodge.
Commenting on the agreement with Singita, CEO of Dubai World Africa James Wilson said that the deal affords Dubai World the opportunity of working with one of the industry's leading brands in one of the most beautiful parts of the world - Kruger National Park. 'We hope to replicate the synergies that characterize this deal in future endeavors', Wilson concluded.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
