Adama – Access Capital Services SC has acquired Safari Lodge in Adama (Nazareth), which is located 100km east of the capital, Addis Abeba, as parts of its plan to set up a timeshare facility under its subsidiary, Access Resorts, reported the weekly English business newspaper, Addis Fortune.
Safari Lodge was opened in 2001 at a cost 36 million.
The acquisition of Safari Lodge marks the second major undertaking by Access Capital, which bought the family-owned Imperial Hotel in the Gerji district this past December.
The newspaper indicated that Access is believed to have bought over 90% of the shares of Safari Palace Hotels from the owners, the family of the late Mekuria Worku.
The Lodge, which lies on a 3,000sqm plot of land, has 17 bungalows, a swimming pool, a restaurant and bar.
Access Resorts Hotel
ARH is a private limited company primarily owned by Access Capital Services and its affiliates. The company on commencement of operation will sell fractional (time-share) ownership of vacation apartments in popular locations within central Addis Ababa. The first of these vacation homes are expected to be sold for USD 3000 per week of ownership.
Currently, the company is in the process of evaluating and negotiating the acquisition of land in various convenient locations in Addis Ababa.
For more information about the company, please visit its website: www.accessresortshotel.com