Boom In Real Estate and Hotel Projects Underlines Investors Confidence in Accra

By On 12th October 2012

Horwath HTL France Releases Accra, Ghana Special Market Report

Paris, October 10th 2012

The dynamic business climate in Accra, driven by Ghana’s political stability and high oil prices has led to a boom in real estate and hotels projects. The hotels, increasingly operated by national and international brands, underline current investor’s confidence in Ghana.

This is one of the key findings in a new report released by the French office of Horwath HTL, the world’s leading hospitality consulting network. The report, written by Philippe Doizelet, Managing Partner and Beatrice Montagnier, Director of Horwath HTL France, examines all of the key economic and touristic drivers for Accra, capital city of Ghana and one of the most highly regarded democracies in West Africa.

With occupancies around 75% for internationally branded hotels at an average rate of $180 it’s easy to see why this market is attracting new development. Ghana’s strong economic performances since the mid-1990s are highly depending on few commodities (mainly gold and cocoa) and individual remittances as major sources of foreign exchanges, but it has recently been growing faster (an estimated 13.7% GDP growth for 2011) as it has found oil and started production in 2010.

The report looks at:

  • General economic conditions
  • Tourism drivers
  • Supply and demand
  • Future Perspective

Philippe Doizelet, Managing Partner of Horwath HTL France and co-author of the report said “Accra is an exciting market for hotel developers and investors. One of the first West African countries to gain independence, the country has a head start of developing a stable political and economic system that allows for external investment. We outline several hotel sectors in the report that have the opportunity to grow rapidly in the next few years.”

The report is available to download on www.horwathhtl.com

About Horwath HTL

Horwath HTL (Hotels Tourism and Leisure) is one of the world’s pre-eminent consulting specialists in the Hotel, tourism and leisure industries, providing unequalled experience and expertise for client projects around the world through a combination of detailed local knowledge and international understanding. Horwath HTL is currently the world’s largest consulting organisation specialised in hospitality, with 50 offices in 39 countries.

Horwath HTL is a member of Crowe Horwath International, a professional association of accounting and management consulting firms founded in New York in 1915. Crowe Horwath International is currently ranked among the top ten international professional service groups with offices in close to 586 cities in 108 countries.

If you have any questions, please contact James Chappell, Global Marketing Director at jchappell@horwathhtl.com , Philippe Doizelet on pdoizelet@horwathhtl.com and Beatrice Montagnier, on bmontagnier@horwathhtl.com .

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