The Iconic Marion on Nicol Comes to Market
South Africa’s hospitality industry was one of the hardest hit by the COVID-19 pandemic. However, there’s been a recent shift as property investors work to reinvent some of the country’s most sought-after properties.
Hospitality Industry Primed for a Reboot
Given the change that the industry has experienced in the last few years, several iconic hospitality institutions are now up for grabs. Prime listings are coming to market and property investors have their sights firmly set on transforming the landscape.
We’ve seen a recent rise in ‘aparthotels’ (hotels transformed into apartments), usually leased on a month-to-month basis, all with added luxuries commonly associated with hotels such as gyms and restaurants. These units are capitalising on the influx of ‘Digital Nomads’ into South Africa who are looking to move into fully-kitted out apartments in desirable areas.
Now, we are also set to see investors putting their own unique spin on traditional hotels – be it in the form of added technology, work zones, events, and even flexible and short-term leasing options.
About Marion on Nicol.
One such iconic listing is the Marion on Nicol in Hurlingham, Johannesburg. This upmarket suburb borders Sandton and was a hotspot for both business and leisure pre-COVID-19. Steeped in rich history, the Marion on Nicol has been mothballed for the past two years and is now coming to market.
The 25-room hotel boasts an additional land portion adjacent to it to cater for future expansion which can be built out to suit the current market demand.
While there is still speculation around the sale, we do believe that the property will remain a hotel and that the property will need to undergo some minor revamping and updating after standing empty over the past few years.
Ways to Reinvent Hotel offerings
Here are a few of our top tips for Investors wishing to reinvent their new commercial properties and fill vacancies as follows:
Listen to your customers: Having a clear understanding of your target market, what they are interested in and what will make them visit your property is critical to the success of your business.
Embrace technology: International trends towards more digital innovation are also becoming apparent on local shores. Touch technology, easy user experiences, and an increased presence online can go a long way in differentiating yourself from your competitors.
Day-use services: This goes for all commercial properties – from retail right through to offices and hospitality. Diversify your range of services based on your customers’ needs. Day-use services can include remote office set-ups, access to your gym, etc.