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

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