ShapeShifter

'People love living in our hotels. We’re at 80% occupancy'

People absolutely love living in our hotels… We’re running at just under 80% occupancy… Our apartments are full on weekends because people are staying for two or three weeks…

Marc Wachsberger, The Capital Hotel and Apartments

We open two new hotels every year. We’re looking to ramp that up… We know exactly what our clients want… you’ll soon find us in places like Bloemfontein and Nelspruit…

Marc Wachsberger, The Capital Hotel and Apartments

Marc Wachsberger is the Managing Director and founder of The Capital Hotel and Apartments, one of South Africa’s largest providers of fully serviced luxury apartments and hotel rooms.

Only 2% of accommodation in South Africa consists of "extended stay" apartment hotels such as those offered by The Capital Hotel and Apartments.

Globally, the figure is closer to 9%, so there’s much room for growth in this type of cost-effective, frills-free accommodation tailored to business travellers.

The Money Show’s Bruce Whitfield interviewed Wachsberger for his weekly “ShapeShifter” feature.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

We hear too much about the successes of entrepreneurs and not enough about their failures.

Marc Wachsberger, The Capital Hotel and Apartments

We were profitable in the first month… We made incredible profits [during the World Cup]…

Marc Wachsberger, The Capital Hotel and Apartments

Bankers hate hotels… We had to convince them and our shareholders… We’re very downside focussed…

Marc Wachsberger, The Capital Hotel and Apartments

We’re one of the leaders in conferencing.

Marc Wachsberger, The Capital Hotel and Apartments

We employ 500 people directly and another 500 indirectly, excluding those in construction.

Marc Wachsberger, The Capital Hotel and Apartments

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : 'People love living in our hotels. We’re at 80% occupancy'


Recommended

by NEWSROOM AI
Read More
What in the world happened to eNews anchor Pat Pillai? He’s been rather busy...

What in the world happened to eNews anchor Pat Pillai? He’s been rather busy...

The Money Show’s Bruce Whitfield interviews Pillai for his weekly (on a Wednesday) “ShapeShifter” feature.

Hedy Lamarr invented what became Wi-Fi. She's more famous for onscreen nudity

Hedy Lamarr invented what became Wi-Fi. She's more famous for onscreen nudity

You may not have heard of Hedy Lamarr, but you owe this 1940s Hollywood star a great deal.

#DataMustFall! Meet Rain CEO Willem Roos... he is making it happen

#DataMustFall! Meet Rain CEO Willem Roos... he is making it happen

The Money Show’s Bruce Whitfield interviews Rain CEO Willem Roos for his weekly “ShapeShifter” feature.

‘Real Wolf of Wall Street’ Jordan Belfort on sex, drugs and starting over

‘Real Wolf of Wall Street’ Jordan Belfort on sex, drugs and starting over

[Strong language warning] Jordan Belfort, played by Leonardo DiCaprio, opens up about his sordid past and inspirational new life.

SPARK Schools provides Singapore-quality education for R19 400 per year

SPARK Schools provides Singapore-quality education for R19 400 per year

Our education system is poor, leading to a proliferation of private schools, most which are unaffordable even for the middleclass.

Meet Johann Redelinghuys, a man hell-bent on ending retirement (as we know it)

Meet Johann Redelinghuys, a man hell-bent on ending retirement (as we know it)

“Why try and make retirement more palatable? Why not just abolish it completely?” says headhunter Johann Redelinghuys.

Popular articles
The movie 'Widows' beautifully links the politics of crime - Gayle Edmunds

The movie 'Widows' beautifully links the politics of crime - Gayle Edmunds

In the movie review, film critic Gayle Edmunds shares her views of Steven McQueen's 2018 heist film 'Widows'.

[LISTEN] Beware of the 'money bomb' scam this festive season!

[LISTEN] Beware of the 'money bomb' scam this festive season!

CEO of SA Banking Risk Information Center, Kalyani Pillay chats about the new festive season scam that's robbing people blind.

Motorist who killed two goslings has been identified

Motorist who killed two goslings has been identified

According to the SPCA, he will be charged with contravention of the Animal Protection Act.

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

Gift of the Givers' Dr Imtiaz Sooliman – angel amongst men – talks about money

"I have no desire for clothes. I have no desire for holidays. I have no desire for outings. All I see is the suffering of people…"

[LISTEN] Bee farmer describes tens of thousands of bees dead in Constantia

[LISTEN] Bee farmer describes tens of thousands of bees dead in Constantia

Bee farmer Brendan appeals to other beekeepers to check their bees and collect samples if they have witnessed any deaths.

Here's how to check your load shedding schedule in Cape Town

Here's how to check your load shedding schedule in Cape Town

Residents are urged to take note of the schedules as Stage 1 load s​hedding remains a possibility.

[LISTEN] 'I won a car but I'm too young to drive!' - Paxton on life after Idols

[LISTEN] 'I won a car but I'm too young to drive!' - Paxton on life after Idols

Idols winner Paxton Fielies chats to Sara-Jayne King about her debut album, This Is Me.