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In this article, we will take a detailed look at the five African countries with investments in the hotel sector, with a review of the agreements signed in early 2023 through forty-five regional (African) and foreign hotel chains. To see the most sensible five countries on this list, click on five African countries with investments in the hospitality sector.
Over the past two decades, Africa has noticed an immediate expansion in the tourism industry, attracting foreign and regional hotel chains. South Africa, one of Africa’s most sensible tourist destinations, has a developing hotel industry that caters to both business and leisure travelers. The performance of the South African hotel industry is estimated to amount to $1. 3 billion in 2023, with a projected CAGR of 4. 43% for 2023-2028. In April 2022, 1,696,851 travellers transited through South Africa’s ports of entry and exit.
This expansion can be attributed to several factors, adding up the country’s herbal attractions, such as Kruger National Park, Cape Winelands, and Garden Route; its well-developed infrastructure; and their relatively affordable prices.
In addition, hotel chains signed 447 deals and added 80,291 rooms to their hotel progression pipeline in Africa in 2021, almost the same point as in 2019. North Africa saw the expansion on the continent, with Egypt being the country with the highest number of rooms. and hotels, three times more than in Morocco and almost four times more than in Nigeria. This expansion is due in part to the Egyptian government’s projects to advertise tourism.
As a result, the Egyptian government has introduced several projects to attract more visitors, in addition to making investments in infrastructure, creating new tourism products, and selling Egypt as an attractive destination.
Marriott International Inc (NASDAQ:MAR) is one of the largest and most successful hotel corporations in the world. It has a significant presence in Africa, with more than 130 hotels in 20 countries. Marriott International Inc (NASDAQ:MAR) is established. expand its portfolio of African luxury hotels, with five openings planned until the end of 2024. The company is expected to introduce the Ritz-Carlton and St. Louis brands. John’s. Regis in Morocco with the planned openings of the Ritz-Carlton, Rabat, Dar Es Salaam and St. Petersburg. John’s. JW Marriott is also coming to Kenya with the opening of the JW Marriott Hotel Nairobi and the JW Marriott Masai Mara Lodge, the company’s first assets in the luxury safari space.
This expansion is a testament to Marriott International Inc. ‘s commitment. (NASDAQ: MAR) with the African tourism market. The company sees Africa as a region with significant expansion prospects and is investing in the development of its luxury portfolio to meet the needs and desires of discerning travelers.
Another big bet in the hospitality industry in Africa is the Wyndham hotels.
On the mainland, there are five hotels and 819 Wyndham Hotels rooms.
Accor SA (EPA:AC) is a leading hotel operator in Africa, with 152 hotels in 20 countries. The diversity of Accor SA (EPA:AC) hotels, from budget chains to luxury resorts. Accor SA (EPA:AC) is well placed to take advantage of Africa’s expanding tourism industry. Accor’s benefits in Africa have been developing in recent years. In 2022, Accor SA (EPA:AC) generated €4,224 million in profits from its global operations. This represents an 80% increase over a comparable Foundation (LFL) compared to fiscal year 2021.
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To create a list of the 15 African countries with investments in the hospitality sector, we received information from W Hospitality Group. This source published 2023 Hotel Chain Development Pipelines in Africa with a review of the agreements signed in early 2023 across forty-five (African) regionals. ) and foreign hotel chains, including North Africa, sub-Saharan Africa, and the Indian Ocean islands. It provides valuable insights into the latest trends and developments in the African hotel market, as well as the key players and projects shaping the long-term of the sector. This report only includes hotel chains that operate or plan to expand to more than one African country (for Africa-based chains) or more than one country in the world (for foreign chains). National hotel chains operating in a single African country. are excluded.
The Hotel Chain Development Pipelines 2023 report assesses the prestige of hotel allocation in Africa, distinguishing between those in the pre-planning phase and those under construction. The term “under construction” indicates that paintings at the site have begun, but some assignments have been on hold for some time and the finishing touch is uncertain. Despite this, those allocations are included in the investigation because they are still transactions recorded in the hotel chains’ progression channels.
Our list lists the cities in ascending order based on the total number of Pipeline hotel rooms in the country.
Total number of Pipeline rooms: 1,605
The Democratic Republic of Congo has a wide variety of hotels and resorts to suit all budgets. The capital Kinshasa has several luxury hotels, such as the Pullman Kinshasa Grand Hotel and the Fleuve Congo Hotel through Blazon Hotels. There are also several mid-range and budget ones. The government of the Democratic Republic of Congo is committed to boosting the tourism industry. In 2022, the government introduced a new tourism strategy to attract 1 million tourists by 2025.
Total number of Pipeline rooms: 1,725
According to the Ministry of Tourism, the tourism and hotel sector has around 667,600 employees, 90% of whom are employed in the hotel sector; The sector contributes about 6. 7% of total national employment.
Total number of Pipeline rooms: 2,132
Tunisia’s tourism industry is poised for a strong recovery, bringing much-needed foreign exchange to the crisis-hit economy. Overall, tourism accounted for about 7% of Tunisia’s gross domestic product, but guest numbers plummeted due to the COVID pandemic, putting more pressure on an already struggling economy.
Total number of Pipeline rooms: 2,181
Ghana is one of the most visited tourist destinations in English-speaking West Africa. The country is home to many tourist attractions, especially for those interested in nature and the history of the slave trade in West Africa.
Total number of Pipeline rooms: 2,407
Cameroon’s hotel and tourism industry has grown particularly since the 1970s, thanks to government and investment from airlines, hotels, and travel agencies. The country is a popular tourist destination for its varied culture, striking herbal beauty, and rich history. The majority of visitors come from France, the United Kingdom and Canada, and business travellers make up an important part of the tourism market.
Total number of Pipeline rooms: 2,445
Côte d’Ivoire aims to make tourism the third pillar of its economy, aiming to attract five million foreign tourists each year and create 700,000 jobs by 2025.
Total number of Pipeline rooms: 2,650
As the need to invest in tourism in French-speaking Africa becomes increasingly apparent, Senegal is emerging as a promising destination for development.
Total number of Pipeline rooms: 2,768
South Africa is a complex and difficult market for foreign hotel chains, but it also offers opportunities.
Total number of Pipeline rooms: 2,862
For many years now, the Algerian hotel market has been governed by a few state-owned hotels and foreign chains are limited to a handful of establishments, even in the capital.
Total number of Pipeline rooms: 3,660
Travel and tourism are essential pillars of Cape Verde’s economy and offer employment opportunities for a significant portion of the workforce. In 2020, industry accounted for 33. 4% of total employment and directly supported 68,000 tasks. The pandemic has reduced the number of jobs in the sector by about 34 percent compared to 2019, tourism continues to be a driving force for economic expansion and progress in Cape Verde. The industry is expected to bounce back strongly in the post-pandemic period. , creating even more task opportunities for the country’s citizens.
Click to continue reading and see the five African countries with investments in the hospitality sector.
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Disclosure. None. 15 African countries with the largest investments in the hospitality sector originally published on Insider Monkey.