Flyt Property Investment launches new hospitality group, WINK Aparthotels

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The talk on the hospitality street is what Level 1 is going to do for the industry – how has lockdown affected the hotel landscape and its offering,  will it recover, and what does the future hold?  Local tourism is likely to drive this recovery until our international borders re-open, but what is this post-Covid guest looking for in terms of accommodation?

The  upside is that the downtime has allowed for some re-thinking and re-invention from the hospitality sector – behind closed doors much has been deliberated and carefully considered and despite the odds the industry has rallied and risen from the ashes – they are ready to open their doors again and offer the excellent service and facilities that have become synonymous with the hospitality sector in South Africa.

Enter WINK Aparthotels, an exciting new hospitality group launched by Flyt Property Investment, who have pooled their existing and ever-growing property portfolio into a hospitality offering that ticks all the boxes in terms of innovation, functionality, affordability and accessibility, perfectly positioned to offer short- and long-term accommodation solutions in Cape Town.

Zane de Decker, MD of Flyt Property Investment, says that their offering aims to provide guests with the convenience of apartment living combined with the luxury and comfort of a hotel.   “Pre-Covid we already saw a turn towards aparthotels, self-catering apartments and Airbnb type accommodation – more and more people are opting for aparthotels versus full-service hotels as they prefer that home-away-from-home atmosphere which allows them more flexibility, privacy and/or a fully-serviced option.”

WINK Foreshore and WINK Eaton Square in Diep River both feature fully-furnished, self-catering apartments and studios with kitchens and kitchenettes for short- and long-stay rentals.   A  meal delivery service is available to guests and tenants, as well as a daily or weekly cleaning service in line with National Health and Safety requirements.  There is fast, stable Wi-FI connectivity and on-site facilities include a concierge and innovative common areas,  along with the newly launched WINK Café that is open throughout the day for a healthy fix.

Head of Hospitality, Lauren Barnard says that they have created a bespoke, contemporary accommodation solution that caters to domestic and international business and leisure travellers, digital nomads and migrant workers: “There is something for everyone.”

Plans are afoot to add another aparthotel in Stellenbosch to their portfolio within the year.

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WHAT IS SECTION 12

Section 12J of the Income Tax Act – the most efficient tax saving tool, provided by SARS and government that allows you to hold on to your tax cash while investing it wisely.

The section specifically aims to help the growth of small and medium sized businesses by increasing their access to equity finance. To attract investors into this typically under-funded sector, which is imperative for driving economic growth, SARS has written Section 12J into the Tax Act, which offers taxpayers a 100% tax deduction in the year of investment if they invest in SMMEs by way of subscription of shares in a Section 12J Venture Capital Company.

Flyt’s Section 12J compliant property developments give investors the full 12J tax deduction, allowing them to put this saving/refund towards their property purchase. This means that SARS will effectively fund up to 45% of the purchase price of the property.

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Eaton Square

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Wink Aparthotel

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31 Heerengracht Street, Foreshore, Cape Town