Cresta to take over Phakalane Golf Estate Hotel

Cresta and Phakalane Estates recently 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 will 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.

Cresta managing director, Mokwena Morulane said the deal would add to the group’s extensive chain of leisure and business hotels around the country. Phakalane Golf Estate Hotel is a prominent four-star property and Cresta brings its expertise, marketing and branding to expand its offering around the country.