Umodzi Holdings Limited and Peermont Global Proprietary Limited End Management Agreement
Friday, June 7, 2019
Leading gaming and hospitality group, Peermont Global (Pty) Limited (‘Peermont’) will end its agreement with Umodzi Holdings Limited for the management of its various properties effective 30 June 2019.
Peermont played an instrumental role in opening Umodzi Park Resort (‘Umodzi’) in October 2014 and has since successfully managed the resort, including the world-class Bingu International Convention Centre (BICC), The President Hotel and Presidential Villas in Lilongwe, Malawi.
Umodzi Park and Peermont have agreed to part ways amicably, following negotiations that have been underway since early April 2019. As a result of the cancellation, all management and operations services of Umodzi Park Resort will revert to Umodzi Holdings Limited.
“The Peermont team is proud of what we have achieved in managing Umodzi for the past five years, especially securing the resort’s initial and ongoing 5-star rating,” says Nigel Atherton, CEO of Peermont. “The Peermont group continues to look forward to pursuing future acquisitions and management contracts on the African continent.”
Both parties have worked together to initiate a robust transition plan to ensure that there are no business disruptions. In addition, Umodzi Park has increased capacity of its local management team since 2014, who form the backbone of business operations, and it is this team that will manage operations from here on.
“We have made a commitment to all our stakeholders that we will continue to deliver exceptional service and provide a world-class business experience at all times. We thank our customers, suppliers and the general public for their unwavering support and patronage they have shown Umodzi Park Resort. We take this opportunity to thank Peermont for its association over this period,” says Master Maliro, Chief Executive Officer, Umodzi Holdings Limited.
The Peermont group continues its successful operations of its other 11 properties in South Africa and Botswana, in addition to its recent acquisition of a key resort in South Africa.