| Thu 17 Aug 2006, 8:30 | | Tourvest expands into East Africa |
|
TRT
TRT
Tourvest expands into East Africa, secures new lodge in Serengeti
Tourism Investment Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/008144/06)
Share code: TRT
ISIN: ZAE000012472
TOURVEST EXPANDS INTO EAST AFRICA, SECURES NEW LODGE IN SERENGETI
Johannesburg, 17 August 2006 - Tourvest has expanded its operations into East
Africa through the acquisition of a majority interest in one of the region"s
leading ecotourism businesses, Vintage Africa. At the same time, Tourvest has
been awarded a prime concession for a new, luxury, permanent tented camp in
Tanzania"s Serengeti National Park. Both deals are subject to regulatory
approval.
Tourvest director Eric de Jager noted that East Africa was one of the fastest-
growing tourism destinations in the world, with growth of more than 30% last
year, largely underpinned by the quality of its ecotourism experience. The
acquisition of Vintage and the Serengeti concession, he said, was in line with
Tourvest"s vision of owning, developing and operating key strategic tourism
assets in Africa.
Based in Nairobi, in conjunction with its Tanzanian operation, Grumeti
Expeditions, Vintage Africa specialises in tailormade safaris showcasing the
finest ecotourist destinations in East Africa. Founded in 1989, it employs more
than 100 people and is renowned for the professionalism of its safari guides -
who have an average of 20 years of in-depth experience in this field - and the
quality of its customised safari vehicles.
In addition to providing inbound destination management services, the company
also has an outbound travel services division selling international travel and
tours to the local Kenyan market, and acts as the general sales agent in Kenya
for Continental and Cathay Pacific Airlines.
De Jager said the group anticipated excellent synergies between its strong
client base in Europe and Vintage"s good access to the American market. "By
cross-marketing, we plan to grow each other"s businesses," he said.
Tourvest"s Serengeti concession, Wogakuria 3 is located in the northern region
of the Park, close to the Mara River, in what is termed a "low-use zone." This
means that visitor numbers are limited to enhance exclusivity and privacy. In
addition, it allows off-road driving which is not generally available in the
Park.
"We will develop a 30-bed luxury permanent tented camp at Wogakuria 3, and this
prime concession will form the cornerstone of a strategy to develop our own
safari circuit in East Africa, covering the primary national parks, private
ranches, small lodges and stylish tented camps," de Jager said.
The Serengeti is the last place on earth where great herds of mammals - over
1.9 million - follow their ancient migratory routes. This migration is the
defining characteristic of the Serengeti-Mara ecosystem. In addition to
supporting the planet"s largest migratory herds, the park has the world"s
highest concentration of predators, which at last count included 7 500 hyenas
and 2 800 lions. There are also some 500 bird species that are perennially or
seasonally present.
For further information call Eric de Jager on 082 900 3416
Issued by du Plessis Associates on behalf of Tourism Investment Corporation.
dPA contact Helen McKane Tel : +27 11 728 4701, Fax: +27 11 728 2547,
Mobile: 082 330 2034, or
E-mail: tourvest@dpapr.com
Sponsor: Investec Bank Limited
Website: www.tourvest.co.za
Date: 17/08/2006 08:30:04 AM Produced by the JSE SENS Department
