Africa spices up menu for global hotels
PHOTO | FILE Various spices.
What you need to know:
- The survey shows that North Africa, which has experienced negative growth this year, continues to be badly hit by unrest particularly in Egypt where projects have either been suspended or cancelled.
- It said this represents growth of 84 per cent over the five-year period, and a compound annual growth rate of 13 per cent.
A number of international hotel investors are eying sub-Saharan Africa than anywhere else on the continent.
According to a recent study, international and regional chains are signing more deals in the region compared to its northern counterpart.
The survey shows that North Africa, which has experienced negative growth this year, continues to be badly hit by unrest particularly in Egypt where projects have either been suspended or cancelled.
“The number of branded hotel rooms planned for SSA has risen consistently since 2011 (from 13,700 in 2011 to 23,283 rooms this year. The number of hotel deals signed has also increased sharply, from 77 hotels in 2010 to 142 hotels in 2014,” reads the study from Lagos-based consultancy W Hospitality Group.
It said this represents growth of 84 per cent over the five-year period, and a compound annual growth rate of 13 per cent.
