Home Hotels & MICE Record hotel growth forecast for Africa

Record hotel growth forecast for Africa

0
SHARE

Hotel development booms in Sub-Saharan Africa
Sub-Saharan Africa is seeing record rates of hotel development, but investment of new hotels in northern Africa remains slow, a new report says.
Investors are planning 30% more hotels in Africa than they did in 2015, a boom that is defying a cloudy overall economic outlook for the continent, which remains a top hospitality destination for tourists and business travellers.
In sub-Saharan Africa, growth is more than double the rate in North Africa, the report by W Hospitality Group on Africa’s regional and international hotel chains states.
Sub-Saharan Africa still holds opportunities that investors are eager to exploit, but in the north the market is already “more mature” and is also suffering from socio-political crises in Egypt, Libya, Tunisia, Mali and elsewhere.
Nigeria tops the list of countries with the most hotels planned, while Angola – boosted by a deal by AccorHotels to build 50 hotels in the country – is in second place.
Quartz

LEAVE A REPLY

Please enter your comment!
Please enter your name here