| Thu 17 Jun 2010, 8:50 | | LAF - Lonrho Plc - President Kabila inaugurates new Lonrho Hotel in Lubumbashi |
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LAF
LOLAF
LAF - Lonrho Plc - President Kabila inaugurates new Lonrho Hotel in Lubumbashi,
Democratic Republic of Congo
LONRHO PLC
(Formerly Lonrho Africa Plc)
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF; ISIN number: GB0002568813)
("Lonrho" or the "Company")
16 June 2010
President Kabila inaugurates new Lonrho Hotel in Lubumbashi,
Democratic Republic of Congo
Lonrho Plc (AIM : LONR) is delighted to announce that the latest Lonrho Hotel
was yesterday opened by His Excellency President Kabila, the President of the
Democratic Republic of Congo (DRC) in a formal ceremony attended by Government
Ministers, dignitaries and guests.
The 197 room Grand Karavia hotel is in the centre of Lubumbashi, the capital of
the copper and cobalt mining province of Katanga in the DRC. US$ 20m has been
spent on the project including a US$10m long term loan from the Development Bank
of South Africa under its mandate to support development in Africa. The DRC
Katanga Province has attracted an estimated US$10 billion in foreign investment
into the burgeoning DRC copper industry, and is seen as one of the main economic
drivers of the country.
The Grand Karavia provides the only international standard accommodation in
Lubumbashi. The hotel is situated in secure landscaped gardens beside a lake and
offers five star accommodation combined with restaurants, bars, internet access
and conference facilities as well as a health club, swimming pool and sports
facilities. The hotel has already become a centre for commerce and social
functions in Lubumbashi following the soft opening in April 2010.
Lonrho Hotels, a wholly owned subsidiary of Lonrho Plc, owns and manages hotels
in Africa. Lonrho Hotels owns 50% of the Grand Karavia Hotel. The property is
held on a long lease from the Government of the DRC. Lonrho Hotels Management
Services Ltd has a ten year renewable management contract to operate the hotel.
David Lenigas, Lonrho`s Executive Chairman, who attended the opening ceremony
with President Kabila, commented:
"This exciting new Lonrho Hotel is a testament to the economic development and
progress being made in the Democratic Republic of Congo. The speed of growth in
the local economy is clear, and the immediate popularity of the facilities
provided by the hotel and the impressive number of reservations being made
demonstrate the latent demand for an international standard quality hotel.
Lonrho Hotels takes great pride in the level of service and customer
satisfaction that guests receive at any Lonrho property and I am sure that the
Grand Karavia will be a natural extension of the Lonrho Hotels portfolio".
LONRHO ENQUIRIES
Lonrho Plc +44 (0)20 7016 5105
David Lenigas, Executive Chairman +44 (0)7881 825 378
Geoffrey White, Chief Executive Officer +44 (0)7717 307 308
David Armstrong, Finance Director +44 (0)7833 054 693
Pelham Bell Pottinger PR
Charles Vivian +44 (0) 20 7861 3126
+44 (0) 7977 297903
James MacFarlane +44 (0) 20 7861 3864
+44 (0) 7841 672 831
Beaumont Cornish Limited (Nomad)
Rosalind Hill Abrahams +44 (0) 20 7628 3396
Roland Cornish +44 (0) 20 7628 3396
South African Sponsor
Java Capital (Proprietary) Limited
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