A conglomerate, made up of a New Zealand-based entity, CP Group and local entrepreneurs, the Fijian Holdings Limited and the Tappoo Group of Companies, has bought out Dominion.
The new owners, trading under the name Upfront Investments Limited, have contracted ACCOR Group, a leading operator engaged in management and operation of hotels worldwide, to manage the hotel
ACCOR, with world famous Novotel and Sofitel range of hotels under its management, will totally refurbish Dominion, which will now be re-branded Mercure Hotel.
Tappoo Group Chairman, Mr Kanti Tappoo and Fijian Holdings Managing Director, Mr Sitiveni Weleilakeba have jointly announced the sale, stating that it was important for both organisations to increase their involvement in the tourism industry.
Both Mr Tappoo and Mr Weleilakeba acknowledged the significance of tourism to Fiji, pointing out that it was the largest contributor to Fiji’s GDP and one of the fastest growing sectors of the economy.
CP Group’s promoter and Chairman of Upfront Investments, Mr Charles Udaynarayan Pandey, said the Dominion Hotel will emerge as the new-look Mercure Hotel after undergoing major renovations and refurbishments upon acquisition.