Capital Hotels

Johannesburg-born Marc Wachsberger, 38, was a chartered financial analyst working in mergers and acquisitions when he noticed a disconnect in the local property market: hotel rooms were overpriced and residential apartment leases were cheap. What’s more, hotels were wasting money on things that business travellers didn’t care about, but not offering the things that they really wanted.

Inspired by these blatant market inefficiencies, Wachsberger started The Capital Hotels and Apartments in 2008 by leasing apartments, furnishing them to a high standard and sub-letting them on a per-night basis to compete with the hotel sector. He did everything himself at first, from negotiating leases to being the porter – giving him hands-on experience at every level, which still stands him in good stead.

By introducing cost-effective frills-free apartment-style and regular hotel-format accommodation tailored to suit business and family travel needs, Wachsberger has offered the local market and travellers from abroad a refreshing alternative to the staid status quo.

The group has just opened its twelfth hotel in Melrose’s hip and happening precinct, and employs more than 500 people across Sandton, Melrose, Menlyn, Rosebank, Cape Town and Umhlanga. With aggressive plans to open two hotels a year for the next five years, Wachsberger’s growth strategy flies in the face of conventional caution typical of the currently constrained property market.

Lounge areas plus a pool overlooking the river. It sounds extraordinary and is yet another notch in this dynamic trailblazer’s belt.

Tamsin Oxford
Tamsin Oxford
I am a professional editor, journalist, blogger, wordsmith, social junkie and writer with over 19 years of experience in both magazine publishing and Public Relations.
Advertisting

Stranded commuters say Ramaphosa’s rail promises ring hollow

Cape Town’s largest passenger rail line has been closed for months, hitting people’s pockets and adding to road traffic congestion

EFF ‘circus’ becomes contagion as MPs heckle Malema

ANC MPs test the EFF’s disruptive tactics on the leader of the Red Berets in Sona reply

Ramaphosa ‘neutral’ in Mkhwebane, Parliament impeachment row

However, the president says even if he has a conflict of interest, another Cabinet member could suspend the public protector

Strike-off case pulls in judge

Judge Mushtak Parker is implicated in an application to strike off his former partners. He is also involved in the fight between the Western Cape high court’s judge president and his deputy
Advertising

Press Releases

Response to the report of the independent assessors

VUT welcomes the publishing of the report of the independent assessors to investigate concerns of poor governance, leadership, management, corruption and fraud at the university.

NWU student receives international award

Carol-Mari Schulz received the Bachelor of Health Sciences in Occupational Hygiene Top Achiever Award.

Academic programme resumes at all campuses

Lectures, practicals, seminars and tutorials will all resume today as per specific academic timetables.

Strategic social investments are a catalyst for social progress

Barloworld Mbewu enables beneficiaries to move away from dependence on grant funding

We all have a part to play to make South Africa work

Powering societal progress demands partnerships between all stakeholders

So you want to be a social entrepreneur?

Do the research first; it will save money and time later

Social entrepreneurship means business

Enterprises with a cause at their core might be exactly what our economy desperately needs

Looking inwards

Businesses are finding tangible ways to give back – but only because consumers demand it