Cresta drops Phakalane deal

Off the table: The Phakalane Golf Estate Hotel is no longer part of Cresta plans PIC: PHAKALANEHOTEL.COM
Off the table: The Phakalane Golf Estate Hotel is no longer part of Cresta plans PIC: PHAKALANEHOTEL.COM

Hotel group, Cresta Marakanelo has dropped its bid to take over the Phakalane Golf Estate Hotel & Convention Centre, saying "certain conditions" of the deal had not been concluded and had lapsed.

In January, Cresta announced that it had signed a 10-year lease agreement for the hotel and the golf course, with an option to renew for further ten year periods.

In addition, Cresta had planned to pay Phakalane P10.7 million as a once-off for moveable assets which include furniture, fittings and equipment, with the amount payable over a 24-month period.

Editor's Comment
The people have spoken

In fact, early election results in some areas across the country, speak to large voter turnout which suggests that voters crowded at polling stations to decide appropriately. The Independent Electoral Commission (IEC) revealed that 80% of the 1,037,684 people who had registered to vote turned up to exercise their right.It’s unfortunate that at the time of cobbling this editorial comment, results had just started trickling in. We recognise that...

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