The option of buying an apartment, and renting it out as a serviced holiday or corporate-stay apartment through our on-site hospitality-management company, The Stay Collection, is proving increasingly popular. This provides financial returns for the owners, not least because Romney Park was previously a five-star luxury hotel that had built up a formidable repeat-customer base, managed by the same team that now owns and runs The Stay Collection.
Actual Average Group Occupancy for the last 12 months = 72.57%
(December 2018 – November 2019)
One-bedroom apartments
Average Occupancy Rate = 77.1%
Average monthly revenue = R34,026 p/m incl. VAT
Potential ROI = 13,6%
Two-bedroom apartments
Average Occupancy Rate = 75,9%
Average monthly revenue = R45,170 p/m incl. VAT
Potential ROI = 9,3%
Three-bedroom apartments
Average Occupancy Rate = 53,6%
Average monthly revenue = R42,476 p/m incl. VAT
Potential ROI = 6,4%
* Figures exclude 25% Management Fee and recharges.
* City of Cape Town Rates and Body Corporate Levies still payable.
* Owners usage 21 days per year.
Business or leisure guests can enjoy the privacy and spaciousness of an apartment with the selected services of a hotel. Managed and operated by The Stay Collection, a full-service hospitality management solution is available for investment buyers at Romney Park. Specialising in boutique-style properties (hotels, guesthouses, lodges, aparthotels and country houses), The Stay Collection, owner-managed by seasoned hoteliers Heino Reuling and Susan Versfeld, takes care of your full investment. From reservations to revenue management, property maintenance, customer and agent relationships and everything in between, their extensive experience in 3* to 5* properties combined with their enviable network of supplier, repeat guest and travel agents, work closely with the property owner in order to grow their investments.
For more information on who The Stay Collection team is and what they offer, click here.