Stella goes shopping and buys – again!
Travel services and hospitality company Stella Group announced yesterday that it had undertaken a substantial international expansion through the acquisition of Protea Hotels of Africa for $255 million.
Rolf Krecklenberg, Managing Director of Stella Group, said the acquisition was a substantial step towards establishing Stella as an international, fully-integrated travel company, with Protea ebing Africa’s largest hotel management company, operating 126 hotels in 13 countries with the properties including seaside resorts, country hotels, mountain retreats, private game reserves and city centre hotels.
Mr Krecklenberg added “As the leading independent hotel management group in Africa, Protea Hotels is an excellent acquisition for Stella Group, rounding out an important geographic region in the company’s international profile,” adding, “When the transaction is complete, Stella Group will be an integrated travel services provider across Australia, New Zealand and Africa and will have broad exposure to Europe through a significant shareholding in Golden Tulip Hospitality Group, one of the world’s largest hotel operators.”
The Protea acquisition gives Stella Group more than 9,000 rooms in Africa with a pipeline of more than 3,000 more to come by the end of the 2008 financial year.
Stella Group’s existing portfolio comprises approximately 15,000 rooms across the corporate and leisure market in Australia and New Zealand under brands including Mantra, Peppers, BreakFree, Saville and Pacific International Suites.
The Protea Hotels acquisition complements Stella’s UK and South African wholesale travel services businesses.
The acquisition, due to be completed in July 2007, is subject only to approval from the South African Reserve Bank.
The transaction will be earnings accretive for the Stella Group in financial year 2007-2008.
As part of the transaction, Stella has secured long-term contracts with senior Protea Hotel management.
Report by The Mole
John Alwyn-Jones
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Qatar Airways offers flexible payment options for European travellers
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Skyscanner reveals major travel trends 2026 at ITB Asia
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists