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The read

Co-founders Jonathan Womersley and Marcel van de Ghinste exit after 17 years, selling the 40,000-property travel platform to a South African consortium co-led by Bellair Road Investment Partners and Janic Capital, with the Ferreira and Moolman family offices and Investec. The executive team rolled equity and stays on. Rare on this ledger: control, catalogue and upside all stay South African-owned — a retained exit, not an export. The open question is whether the consortium holds, or flips to a foreign buyer later.