Letlole investors approve P235m Cresta deal
Friday, February 15, 2019
The hotels are President Hotel, Cresta Lodge, both in Gaborone, Thapama Hotel in Francistown and Cresta Bosele in Selebi-Phikwe.
The deal is classified as a related party transaction as the Botswana Development Corporation holds 66% equity in Letlole and 27% in Cresta. Cresta is the current tenant of the properties it is taking over under a 10-year lease due to expire on June 30, 2020. The leases are held on a fixed rental structure with an annual compounded escalation, an arrangement that is increasingly uncommon in the hospitality industry.
The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...