Hotels eye opportunities in Africa

Kapstadt, South Africa – 10 June 2013 – With limited opportunities for expansion in South Africa, a slew of hospitality players are eyeing the rest of the continent, where an undersupply of quality hotels and upbeat economic growth prospects are fuelling the scramble.

Hotel Room - Suitcase

Protea Hospitality Group has signed a deal that will see it moving into its 10th African country, Rwanda, the company said last week.

CEO Arthur Gillis said on Friday the company had hotels under construction in Zambia, Ghana, South Africa, Nigeria and Uganda with a total value well in excess of $100m and it was in the planning stages of expansion into at least three more countries within the next couple of years.

“Africa … currently has far more base development potential than just about anywhere else in the world. Numerous African economies are expanding rapidly and it’s encouraging to see GDP (gross domestic product) projections of between 6% and 8% becoming reality on the back of political stability and a burning desire to create wealth for many rather than just a select few,” Mr Gillis said.

According to research by consultancy W Hospitality Group this year, companies leading the way were Hilton Worldwide, with 6,230 rooms in its African pipeline; Carlson Rezidor, with 5,947; Accor, with 5,165; and Marriott, with 3,900.

Read full story here: http://www.hospitalitynet.org/external/4061035.html?utm_source=360&utm_medium=email&utm_campaign=Hospitality+Net+360+Monday+|+June+10&utm_content=carsten.hennig%40medienunternehmung.de

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