99Designs.com

Nov 23 2009

Arabella Western Cape to be sold

Published by at 1:21 pm under Companies,More News

The German beer brewer Schörghuber will sell the Arabella Western Cape Hotel next year, the company announced in Munich.

The decision to withdraw isn’t a vote of no confidence in South Africa, but was forced upon the company Schörghuber by financial problems (loss of €88 million last year). With Heineken, Schörghuber is the third biggest German beer brewer.

CEO Stefan Schörghuber died unexpectedly at the age of 47 years in November last year. Since then the family business has been restructuring. As a non-core investment, the Arabella was earmarked for sale before the World Cup.

No responses yet

Trackback URI | Comments RSS

Leave a Reply