Tricolt appoints Totalstay as aparthotel operator at The Madison and Olympus Sandton

South African residential property developer Tricolt Group has appointed Totalstay™ as the aparthotel rental pool operator for two of its flagship developments, The Madison in Cape Town and Olympus Sandton in Johannesburg.

The appointment follows a due-diligence process undertaken by Tricolt to identify an operator capable of managing the rental component of the developments and providing owners with a structured entry point into the short- and flexible-stay market.

Established in 2010, Tricolt has delivered more than 5,000 residences with a combined end value exceeding R16 billion and currently has over 2,000 residences under development.

The Madison, located at 142 Bree Street in Cape Town’s CBD, will comprise 391 apartments across 23 floors, bringing together residential, retail and hospitality elements. The development includes executive suites, one- and two-bedroom apartments and penthouses. Construction is scheduled to begin in early 2027, with completion expected in mid-2029.

Totalstay has been appointed to manage participating apartments within the development on behalf of owners who elect to join its aparthotel rental pool. The company will provide an end-to-end management service, taking care of the day-to-day operational and administrative requirements on behalf of participating owners.

With an office in the building and a dedicated on-site team available 24 hours a day, Totalstay will manage the guest experience throughout each stay, helping to ensure consistent service, encourage repeat bookings and support the long-term performance of the participating apartments.

In Johannesburg, Totalstay will also operate the aparthotel rental pool at Olympus Sandton, Tricolt’s 50:50 joint venture with Growthpoint Properties.

Located at the corner of Empire Place and Rivonia Road in the Sandton Summit precinct, Olympus comprises 527 apartments across two towers, Athena and Apollo, together with hospitality, restaurant and leisure features.

Construction is already under way, with the full site handed over to the main contractor in April 2026. More than 85% of apartments had been sold by the project’s groundbreaking in February. Overall completion is targeted for 2028.

Tricolt Group Chairman Tim Kloeck says the selection of the rental operator formed an crucial part of the planning for both developments.

“For buyers purchasing with rental income in mind, the long-term operation and management of the property are fundamental to the investment proposition. At Tricolt, we undertook a rigorous due-diligence process to appoint experienced, professional short-term letting operators capable of managing these developments at the scale and standard required,” says Tim Kloeck, Chairman of Tricolt.

“Our objective is to provide owners with a professionally managed rental solution that delivers a consistent, high-quality guest experience while strengthening security, operational control and service standards across the development. Ultimately, this approach protects the reputation of the property and the long-term value of every owner’s investment.”

Totalstay will manage participating apartments on behalf of owners, overseeing reservations, revenue management, guest services, housekeeping and the full spectrum of daily hospitality operations.

Rael Phillips, CEO of Totalstay, says that the appointment reflects a broader shift toward developers considering the operating model of investment-led residential projects much earlier in the development cycle.

“The rental component cannot be an afterthought in a development where a significant proportion of buyers are purchasing for investment purposes,” says Phillips. “There is a lot that needs to happen before the first guest arrives.”

“Our involvement begins well ahead of opening, from advising on apartment layouts, furnishings and operational requirements to putting the right technology, staffing, compliance and guest-service systems in place. By the time owners are ready to put their apartments into the rental pool, the operating structure is fully established.”

Phillips adds that this early planning also helps create consistency across participating apartments. “A professionally managed rental pool should feel like one hospitality offering to the guest, not a collection of individually managed apartments. That level of consistency has to be built into the operation from the outset.”

The partnership signals how investment-led residential developments are increasingly integrating hospitality-driven operating models from the earliest stages of planning.

For more industry-related news, click here.