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AccorHotels completes 100% acquisition of Mövenpick Hotels

AccorHotels announced completion of its acquisition of Baar, Switzerland-based Mövenpick Hotels and Resorts on September 3rd, 2018.  The acquisition, which was earlier announced in April 2018 will effectively transfer ownership of the Mövenpick brand, and all of its hospitality activities to AccorHotels. Mövenpick was previously owned by Kingdom Holding Company (an investment vehicle of Saudi Prince Alwaleed […]

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AccorHotels partners with Qatar’s Katara Hospitality for an African US$1billion fund

AccorHotels has teamed up with Katara Hospitality to set up a $1 billion fund that will focus on hotel investment in the sub-Saharan African region.  The investment fund will initially be financed with $500 million raised from debt and co-investments.  Over the next five to seven years, both parties will contribute the remaining $500 million […]

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Development: Emerald Continental Hotel, BIS Way, Oniru – Lagos

Name: Emerald Continental Hotel; Location: BIS Way, Oniru –  Lagos Use: Hospitality: Developer: Emerald Continental Services Ltd, a subsidiary of ENL Consortium Ltd; Keys: 244; Main Contractor: Dori Construction; Project Manager: Envohygienix; Piling Contractor: Brunelli Construction; Quantity Surveyor: Shepherd Imhogiemhe & Partners; Building Services Engineer: Vicak Consult (Ltd); Structural  Engineer: Habitech Engineering Ltd; Mechanical and […]

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Radisson Hotel Group signs new deal for Lusaka, Zambia

Radisson Hotel Group just announced the signing of a Park Inn by Radisson Longacres, Lusaka, with the Public Service Pension Fund (PSPF).  The hotel will be located in the Longacres suburb of the country’s capital, close to the city’s concentration of embassies, diplomatic missions and the UN offices. The Park Inn by Radisson Lusaka Longacres […]

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Marriott Hotels opens in Accra, Ghana

On April 30, Marriott announced the debut of its flagship brand in Accra, Ghana, with the Accra Marriott Hotel.  The 208-room hotel is located in Airport City, a growing urban development within 7.5km outside of the city’s central business district.  The hotel is also located across from Accra’s Kotoka International Airport.  Other notable buildings in […]

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Marriott opens a Sheraton in Bamako, Mali

On May 7th Marriott announced the opening of the Sheraton Bamako Hotel, its first hotel in Mali.  Along with the other Starwood brands, the Sheraton was absorbed into Marriott’s portfolio after the latter’s US$16 billion acquisition by Marriott in September 2016. The new 200-room hotel is located in the ACI 2000 district, a newly-developing neighborhood […]

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AccorHotels Adds Another Brand to its Portfolio, Acquires Mövenpick Hotels

AccorHotels has announced that it will acquire Mövenpick Hotels and Resorts for €482 million (estimated at US$567 million) in cash, from Saudi Arabia’s Kingdom Holding Company and its partners.  This move continues the Paris-based company’s efforts to expand in emerging markets, particularly in Asia-Pacific, the Middle East and Africa.  The deal is expected to close […]

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Mövenpick makes its Kenyan (and East African) debut

Mövenpick Hotels and Resorts opened its first hotel in Kenya, and the East African region, earlier in April 2018.  The hotel is located in the Westlands district of Nairobi, and about 20km from the Jomo Kenyatta International Airport. Speaking on the new development, Marc Descrozaille, President Middle East & Africa of Mövenpick Hotels & Resorts, commented on […]

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AccorHotels to acquire stake in South African Mantis Group

AccorHotels is France’s and Europe’s biggest hotel operator with over 20 hotel brands, including the Sofitel and Novotel, and 4,300 hotels in 100 countries.  Africa and the Middle East represent 8 per cent of the company’s portfolio with 205 hotels and 47,900 rooms (and a pipeline of 115 hotels and 32,400 rooms).  It operates in […]

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UAC of Nigeria plans to sell its investment in UPDC Hotels (UHL)

The board of UAC of Nigeria as at the end of Q4;2017 classified interest in its real estate subsidiary UPDC Hotels (UHL) as held for sale. Reuters reported the group’s CEO, Abdul Akhor Bello confirmed the sale of UHL last Thursday and the sale is expected to be completed within a year from the reporting […]

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