Developer IFA Hotels and Resorts is to enter the Namibian hospitality and spa market by acquiring four properties in the southern African country through a joint venture agreement with the Ohlthaver and List (O and L) group.

The joint venture has been valued at US$75m (56.2m euro, £38.1m) and the four hotels that will be redeveloped are currently branded and operated within the Namib Sun portfolio.

Spas are expected to be included as part of the redevelopment of each property.

The four properties under the joint venture are The Strand Hotel in Swakopmund; King’s Den Lodge on the banks of the Chobe River in the North Eastern Caprivi strip; Mokuti Lodge, situated on the gateway of Etosha Park and a fourth site in Windhoek.

IFA will also assess the residential and retail opportunities surrounding the properties with a view to integrating any other development to the adjoining hotels.

Also making its debut in Namibia is the international hospitality group Kempinski Hotels, which will operate all four of the joint venture hotels.

O&L is a private sector group of companies based in South Africa, with vested businesses that actively promote and support business growth in Namibia.