Counting down to the fifth African Hotel Investment Forum (AHIF) to be hosted in Addis, brand operators are tramping to expand presence in Africa where Ethiopia belongs to the top 10 leading hotel development projects in the pipeline.
According to a press statement released by Bench Events, a UK-based hospitality events organizing firm, the hotel business boom in Africa is topping in the global market. Bench Events suggested that eight new global brand hotels are in the making in Ethiopia. Across the continent, 270 hotel chains are in the pipeline with the expected number of rooms exceeding 30,000.
Egypt leads the group with 18 new hotels chains being developed while Ethiopia stands eighth among the 10 leading nations in Africa. Egypt is tailed by Morocco, Nigeria, Algeria, Tunisia, South Africa, Libya, Ethiopia, Kenya and Rwanda. Though the leading nations are mainly from northern Africa, Bench Events suggested that countries in Sub Saharan Africa (SSA) are gaining momentum in hotel development projects.
The information obtained from Bench Events indicates that, out of the top 10 global hotel operators, Hilton Worldwide leads with about 7,250 rooms in new hotels. However, Marriott leaps forward, leading with the development of 36 new hotels across the continent.
Back in 2014, Ethiopia hosted the fourth AHIF, which was attended by major global industry players and which is the fastest spreading event bringing global players and policy makers together. It is to be recalled that Prime Minister Hailemariam Desalegn had conferred with major operators of the hospitality business following the 2014 AHIF event that was held in the country. During the event, six major brand operators had inked management agreements to run star-rated hotels, which would open doors between now and 2018.
Devising the African Standard Hotel Investment Forum about five years ago, Bench Events is thriving elsewhere in Europe and the Gulf States. Siding with Bench Events, Calibra Hospitality Consultancy PLC made efforts to bring in foreign hotel operators to join hands with local developers. The fifth AHIF is booked to take place at the end of October this year.
[TheReporterEthiopia]