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…
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
Recommendedby NEWSROOM AI
Instead, we have nothing. Just a growing pile of debt. Bruce Whitfield interviews Daniel Silke, a political economy analyst.
How realistic is the 'eco'? The Money Show’s Bruce Whitfield interviews Ronak Gopaldas, Africa Analyst at Signal Risk.
The Money Show's Bruce Whitfield interviews Pieter du Toit, author of "The Stellenbosch Mafia: Inside the Billionaires' Club".
Personal Finance's retired founding editor Bruce Cameron on his attitude toward money (hopes and fears, successes and failures...)
The writing is probably on the wall for the resurgent rand. Bruce Whitfield interviews John Cairns, a Strategist at RMB.
You only live once — personal finance guru Warren Ingram on divvying up your income if you're not the budgeting type.
Short-term insurers suddenly carry a massively reduced risk burden, says consumer journalist Wendy Knowler. Getting some back?
A business tool for older generations, a staple for younger ones
This is an increase of 27 cases from Tuesday's announcement. Health Minister Zweli Mkhize has tested negative for the virus.
The Great Depression started 91 years ago and changed everything. Bruce Whitfield speaks to economic historian Keith Breckenridge.
Despite the achievement, the country still lost R100 billion in uncollected taxes, says Commissioner Edward Kieswetter.
Personal Finance expert Maya Fischer-French on the pros/cons of dipping into credit insurance vs opting for a debt relief holiday.
Absa is providing payment relief to its retail clients as well as its business banking and wealth customers.
The revered South African HIV scientist passed away at a Durban hospital on Tuesday after COVID-19-related complications.
Commissioner Edward Kieswetter says they have diverted customers to their online channels and contact centres.
Fair Practice Mediation Services director advocate Veerash Srikison says communication can breakdown in families during this time.