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.
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:
Recommendedby NEWSROOM AI
Interested in farming as a "Hassel-free" side-hustle? The Money Show’s Bruce Whitfield interviews Grant Field, CEO at Fedgroup.
Bruce Whitfield sat down with GT Ferreira, Laurie Dippenaar and Paul Harris, the inspirational founders of Rand Merchant Bank.
Mad Giant was born from the desire to conquer the world and take chances with no fear of the outcome, says its founder Eben Uys.
The year’s best interviews of South Africa and the world’s most famous (and infamous) movers and shakers.
Bruce Whitfield interviews Mokoena, single mother of Refiloe, the inspiration behind her businesses, including "Eleven28 Gin".
You may not have heard of Hedy Lamarr, but you owe this 1940s Hollywood star a great deal.
John Maytham and his team hopped on board the luxury ocean liner, which has docked in Cape Town, during a special outdoor broadcast.
Cape Town Water Bikes is an unusual way to experience the coastline of the South Peninsula. Hop on a water bike and pedal away!
Eusebius McKaiser shares his views on the former COO at Bosasa, Angelo Agrizz's testimony at the Zondo Commission.
The health programme piloted a new tag system at the exit points in a bid to crack down on fake gym visits at a few fitness clubs.
The journey began in Aberdeen, her father's birthplace, in June last year and ended in Mother City over the weekend.
Kieno Kammies speaks to Dr Ryan Noach Deputy Chief Executive at Discovery Health and Dr K who says his patients are suffering.