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Marriott’s announcements at the African Hotel Investment Forum 2017

Marriott announced seven new hotel deal signings at the African Hotel Investment Forum (AHIF) 2017, which held October 10 – 12 in Kigali, Rwanda.  The global hotel company currently operates in 20 African countries, a penetration that was particularly driven by its acquisition of Protea Hotels in 2014.  Its pipeline earlier in the year stood […]

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Development: Hotel Project, Corner of Ojora and Onitolo Road, Ikoyi – Lagos

Name: Hotel Project; Address: Corner of Ojora and Onitolo Road, Ikoyi, Lagos – Nigeria; Use: Hospitality; Keys: 200; Features: Banquet Hall, Rooftop bar and swimming pool, Fitness Centre and Spa; Parking: 300 bays; Floors: 7; Developer: Tom Hawksworth Limited; Architects: Design Group Nigeria; Project Managers: Design Group Nigeria; Structural Engineers: Jubas & Company Limited; Mechanical and Electrical Engineers: Avantis Integrated Consulting; Main Contractor: Vita Construction […]

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An upbeat week of announcements for African hotel markets

It was a week of major announcements of growth plans for Africa by international hotel companies.  Announcements came from U.S. based Hyatt and Hilton to significantly increase their footprints in Africa over the next few years. HYATT In a press release on Tuesday, October 3rd, Hyatt announced its plans to open six new hotels in […]

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Pearl of Africa opens in Kampala, Uganda

The Pearl of Africa Hotel officially opened in the Nakasero Hill district of Kampala, Uganda on October 1st.  The hotel was developed by the AYA Investment Group, reportedly at a cost of US$300 million. Construction started on the property in 2006 and was completed in June 2017, after many missed deadlines, administrative, and funding issues including […]

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Marriott Opens in Imo State Capital

Marriott International has announced the opening of its new Protea Hotel by Marriott in Owerri, Imo State, Nigeria.  The 90-room hotel was developed by African Capital Alliance, a West African-focused private equity firm, and Kunoch Limited.  The development of the hotel was largely funded by the Capital Alliance Property Investment Company (CAPIC), a US$165 million […]

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2017 African Hotel Valuation Index

HVS, a global hospitality consulting and services firm, launched the fourth edition of its African Hotel Valuation Index (HVI) during the recent THINC Africa event.  The HVI is key in assisting investors in making investment decisions and promoting hotel development in Africa. In the HVI report, HVS acknowledges Africa’s bad reputation, citing the insecurity, poverty, health crises, challenges […]

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THINC Africa 2017 – Day Two

The second day of THINC Africa commenced with a discussion of the global hotel market context, presented by Stephen Rushmore Jr (CEO, HVS). Key takeaways from this session were that hotel investors, lenders, and management companies have become more sophisticated in their investing, thus reducing the volatility of previous periods.  Hotels have also become less […]

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THINC Africa 2017 – Day One

The second edition of the Tourism, Hotel Investment & Networking Conference (THINC) Africa was held on 30 & 31 August in Cape Town, South Africa.  It was a well-attended and deep-diving hotel and tourism industry event hosted by HVS, a global hospitality consulting and services firm that has established its presence on the continent with […]

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Exploring Hotel Management Agreements in the African Context

A hotel management agreement is an arrangement in which a hotel’s owner contracts with a management company, or operator, to run the hotel.  According to this hotel management contract overview published by HVS, the management company, or operator, typically assumes the responsibility for managing the property by providing direction, supervision, and expertise on behalf of […]

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Development: Protea Hotel Select Owerri, Imo – Nigeria

Name: Protea Hotel Select Owerri; Developer: Capital Alliance Property Investment Company (an African Capital Alliance managed fund); Location:Plot H/1 Nekede Pocket Layout New Owerri, Protea Road Owerri  Nigeria; Use: Hotel; Keys: 90+; Project Team: O’Spaces Nigeria Limited, HOS Consult; HVAC Contractor: Tecnicool Nigeria; Opening Date: October 2017. The Capital Alliance Property Investment Company (CAPIC), a fund […]

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