What is fuelling the rapid hotel growth in West Africa?
Date: March 6, 2020
Today, Africa is seen as one of the most promising regions for hotel developers. Aside from small chains and independents, four global hotel groups dominate signings and openings on the continent. Over the last four rolling quarters, as of September 2019, Accor, Hilton, Marriott International and Radisson Hotel Group have opened 2,800 rooms and signed deals for 6,600 rooms. Across Africa, hotel development remains important in most advanced economies, such as Morocco and South Africa; and projects are multiplying in East Africa, especially in Ethiopia, Kenya, Tanzania and Uganda. In West Africa, Nigeria is back on the development scene thanks to emerging regional destinations beyond Abuja and Lagos. Francophone Africa is also moving fast. The Ministry of Tourism of Ivory Coast has launched an ambitious national plan for tourism development, Sublime Cote d’Ivoire, and already announced over US$1bn investment in the sector. Senegal is the other regional star, with local programmes such as Diamnadio, Lac Rose near Dakar and Pointe Sarene. Other countries showing active hotel development include Benin, Cameroon, Guinea, Niger, and Togo.
Now, in an interview, Philippe Doizelet, Managing Partner, Hotels, Horwath HTL, West Africa’s leading hospitality consultant, in conjunction with the Forum de l’Investissement Hôtelier Africain (FIHA), the premier hotel investment conference in Francophone Africa, has identified four fundamental factors which are fuelling an increasing flow of investment into the hospitality sector in West Africa. They are, in alphabetical order: Air connectivity, Better economic growth, Currency and Demographics.
Click here for the full article
Visit the FIHA website