Hotel investment increases in Africa

New figures released last week by W Hospitality Group Hotel Chain Development Pipeline Survey show an ‘extraordinary’ picture of hotel development across the African continent, with 36 hotel chains and 86 brands having invested in more than 64 000 rooms in 365 hotels.

This is up almost by 30% compared to last year, the report said.

In comparison to figures from the inaugural survey in 2009, it is possible to see how far hotel development in Africa has come. In 2009 there were only 19 international and regional hotel chains contributing, with a pipeline of 144 hotels and just under 30 000 rooms.

Trevor Ward, W Hospitality Group managing director, said: “The evidence from our survey is clear – investors remain confident about the future of the hospitality industry on the continent.

“Even when pummelled daily by low commodity prices, exchange rate problems, political challenges and poor infrastructure, Africa remains resilient,” Ward noted in a statement.

The increase is largely down to strong growth in sub-Saharan Africa, which is up 42.1% in 2015 and is significantly outstripping North Africa which achieved only a modest 7.5% pipeline increase this year.

Related Posts Plugin for WordPress, Blogger...

, , ,

Comments are closed.