W-Hospitality Group Report: Hotspots for Africa’s booming hotel sector
Ethiopia, Kenya and Tanzania, have been highlighted as the three fastest growing countries in Africa’s soaring hotel sector.
Across the continent, the total number of rooms in the pipeline during 2016 was up almost 30 per cent compared with 2015 – “an extraordinary increase,” according to the 36-page report prepared by the W Hospitality Group, now available to view online for free.
“Our annual report is acknowledged as the most authoritative source on the growth ofthe hotel industry in Africa, particularly the activities of the international chains in signingnew deals,” says Trevor J WardManaging Director, based at the company’s HQ in Nigeria.
And the big investors are increasingly concentrating on sub-Saharan Africa, according to the report.
It says: “The increase in Africa is largely due to strong growth in sub-Saharan Africa, which continuesto surpass North Africa.”
In 2015, the pipeline in North Africa – Morocco, Algeria, Tunisia,Libya and Egypt – was just over 18,500 rooms, which in 2016 increased by 7.5 per centto just under 20,000 rooms.
“Contrast that with sub-Saharan Africa, where the pipeline hasincreased by 42.1 per cent. This is clear evidence that investors remain confident aboutthe future of the hospitality industry on the continent.”
The report says: “One cannot look at that growth in sub-Saharan Africa without mention of AccorHotels’mega-deal in Angola, which dominates much of the data presented in this report.”
The report also highlights some of the slower performing countries: Nigeria, Angola and Zambia, saying “each highly dependent on single commodities for government income and foreign exchange, are growing more slowly.
The W-Hospitality Group is expected to reveal its 2017 hotel pipeline research within the next month.
You can read the full report by clicking HERE