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
Let us all go to vote

Figures released by the country’s electoral management body have shown that a total of 1, 037, 684 people have registered to vote.However, eligible voters could be discouraged by events leading to the voting day like poor execution of advance voting amid talks that the elections could be unfair.There have also been threats by certain opposition politicians that shall the elections not be free and fair, they will halt them.Despite these...

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