Hotel Chains invest in the African market

The tourism market is booming in Africa, and with that, several hotel chains invest in the continent. During the Africa Hotel Investment Forum this week in Ethiopia, companies have been discussing market expansion and making deals.

It was announced on Monday (23), the Hampton by Hilton Sandton Grayston. The launch represents that the company has reached the 100-hotel mark in Africa while celebrating its centennial. In 2019, Hilton opened four properties on the continent, entering three new markets.

Hilton’s Project for Cape Town

Marriott International also has announced that it expects to add 40 properties and more than 8,000 rooms across the continent by the end of 2023. The company currently has about 140 properties on the African continent. By then, it is estimated that more than $ 2 billion will be invested and this will generate over 12,000 new jobs. The company said agreements were signed to open its first property in Cape Verde and expand its presence in Ethiopia, Kenya, and Nigeria.

Africa is a land of opportunity with untapped potential and remains the core of our strategy,” said Alex Kyriakidis, president and managing director for Marriott Middle East and Africa at Marriott International. “The economic growth of the region is witnessing, coupled with the substantial emphasis that the continent’s countries are placing on the travel and tourism sector, present us with huge opportunities for growth.”