South Africa’s Michelangelo Hotel shuts amid ownership battle at legacy

The Michelangelo, one of South Africa’s best-known luxury hotels in Sandton, has stood empty for years as a dispute between major shareholders of Legacy Hotels & Resorts drags on. 

At the center of the standoff is a hostile takeover bid by Ensemble, a firm backed by the Libyan Investment Authority. Ensemble holds 39.79% of Legacy, while founder Bart Dorrestein controls 40.84% through Legacy Management Holdings. Associates linked to him via Swanvest own a further 19.39%. 

Both sides are seeking to buy each other out and take full control of the company, setting off a protracted legal and corporate fight. 

Security guards at the property say the fallout has left the Michelangelo closed since the end of pandemic lockdowns. The hotel remains fully furnished and ready to receive guests, but its doors have stayed shut. 

Requests for comment sent to Legacy Hotels were not answered in the two weeks before publication.

A landmark left quiet 

Set within the Sandton City precinct, the Michelangelo has long been a fixture of Johannesburg’s financial district. Completed in 2005, it was once the tallest building in Sandton before the group later developed The Leonardo nearby. 

The hotel draws on the style of Manhattan high-rise apartments and has hosted global figures including Barack Obama, Oprah Winfrey and Lady Gaga. 

Rising nearly 150 meters, the building includes more than 200 suites across 34 floors. Its top-floor Cupola Suite features multiple bedrooms, a private pool, gym and meeting space. The hotel also offered fine dining through Parc Fermé and direct access to Sandton City and Nelson Mandela Square. 

Today, barriers block its entrances and a notice confirms the closure. While the hotel itself is shut, parts of the Michelangelo Towers complex remain open, including street-facing restaurants and retail outlets.

Ensemble takeover fight heads to appeal

The ownership dispute has intensified over the past year and is now heading to South Africa’s Supreme Court of Appeal. 

The conflict began in early 2024 when Ensemble moved to acquire full control of Legacy, describing the situation as a breakdown between key shareholders. Dorrestein and his partners resisted, arguing their combined stake gives them effective control. 

Ensemble approached the Johannesburg High Court to push for a private auction that would allow both sides to bid for each other’s shares. The proposal would effectively hand control of the company to the highest bidder. 

The court ruled in Ensemble’s favor in December 2025. Dorrestein and his associates are appealing that decision, seeking instead to compel Ensemble to sell its stake at a value set by an independent expert. 

A further complication is the involvement of the Libyan Investment Authority, which is subject to international sanctions. That raises potential hurdles for any transaction involving its backing.

Michelangelo owned by Libyan-linked Ensemble

Founded in 1999, Legacy Hotels & Resorts grew from a management buyout into one of South Africa’s largest luxury hotel operators. Its portfolio includes high-profile properties in Sandton, Cape Town and game reserves. 

Beyond the Michelangelo and The Leonardo, the group runs hotels near the V&A Waterfront and manages lodges in the Kruger National Park and Pilanesberg region. 

The Michelangelo itself is owned by Ensemble Hotel Holdings, a unit linked to the Libyan sovereign fund, while Legacy operates it as part of its portfolio. 

For now, one of Sandton’s most recognizable buildings remains unused fully fitted, but waiting on a resolution between shareholders before it can welcome guests again.