Marc Wachsberger is the founder and MD of a hotel company, The Capital Hotel Group.
Wachsberger started with two small leased properties in 2008 ahead of the Soccer World Cup.
Today, The Capital Hotel Group owns six properties across Sandton including The Empire, Moloko, 20 West, Villa, Hydro and Esprit with another five at various stages of development around the country.
When asked how he came up with such a business, Marc said:
We started in 2008 at the heart of a boom that hotels were over prized and the residential property, so we saw a gap.— Marc Wachsberger founder and MD of The Capital Hotel Group
Listen to the conversation between Redi Tlhabi and Marc Wachsberger of The Capital Hotel Group:
Wachsberger used the world cup as an opportunity to sub-let apartments to business travellers who wanted longer term stay and didn’t want to stay in hotels. He says many people who came into the country at the hype of the world cup preferred executive apartment.
We were a bit unique as an executive apartments which were a bit spacious than a hotel room. We had a niche and people liked us and allowed us to grow.— Marc Wachsberger founder and MD of The Capital Hotel Group
When the excitement of the 2010 soccer world cup was over many businesses that capitalised on it died, but how did Marc survive that?
In life if you do something really well and stand out, there’s always an opportunity for success— Marc Wachsberger founder and MD of The Capital Hotel Group
This article first appeared on 702 : Meet the young man who transformed accomodation business - Marc Wachsberger