South Africa has a brand-new, homegrown hotel group to take on Airbnb and traditional hotels.
Home* Suite Hotels targets business travellers and seasoned tourists.
Novick is the founder of Kulula.com and was the former co-CEO of Comair.
Lucid Ventures funds the construction of hotels through its Section 12J certification, providing investors with a full tax deduction.
Home* Suite Hotels has larger rooms than many travellers are used to and a homely feel.
Did you know?
- The South African tourism industry employs about 700 000 people (mining employs about 465 000).
For more detail, listen to the interview in the audio below (and scroll down for quotes from it).
There is a lot of supply in the market. And the economy is, obviously, not doing great…— Gidon Novick, founder - Lucid Ventures
It’s a homely service offering… [but] people do appreciate what hotels offer… We tried to combine both [Airbnb and traditional hotels] …— Gidon Novick, founder - Lucid Ventures
Weekends are always a challenge in Johannesburg… We have three hotels under construction in Cape Town…— Gidon Novick, founder - Lucid Ventures
The beauty of Section 12J is you can build without debt…
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