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New Radisson Blu hotels for Accra and Kampala

The company made this announcement on October 1st at the Africa Hotel Investment Forum, which was recently held in Addis Ababa, Ethiopia.  Carlson Rezidor has signed new deals for the development of two Radisson Blu hotels in both Accra, Ghana and Kampala, Uganda. Radisson Blu Accra Airport The Radisson Blu Accra Airport will be located at […]

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Accor to potentially acquire Louvre Hotels Group

Accor, the Paris-based hotel group, is reportedly a top contender for the acquisition of the Louvre Hotels Group, which is currently owned by the U.S.-based Starwood Capital Group.  Starwood Capital, a private investment firm with a focus on global real estate (and onetime owner of Stawood Hotels) obtained the Louvre Hotels portfolio as part of its acquisition of Taittinger’s hotel […]

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Development: One Airport Square, Ghana

Name: One Airport Square Location: Airport City, Accra Floors: 9 Size: 17,000sqm of Office Space. 2,000sqm of Retail Space Use: Retail and Office Developers: Joint venture between Actis and Myma Belo Osagie of Boston Investments Limited  Expected Completion: 2014 Parking: 250 Spaces Cost: $62.5m Ghana’s fast growing and politically stable economy is attracting investment into the domestic oil and gas, financial […]

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Innovation in the Office and Hospitality Space

Despite the locational advantages of living in a megacity, there is overwhelming evidence showing that the stress caused by being around other people can constantly overrun the health benefits. There has always been an urgent need to find innovative solutions in resolving problems as cities grow. In response to this, two Canadian entrepreneurs started the […]

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Transcorp Hotels in N8bn ($49m) IPO

Transcorp Hotels (Nigeria) intends to raise US$48.8m (N8bn) through an IPO, which commenced marketing on Sept. 25th and is expected to close on Oct. 17th.  The hotel company will offer 800 million ordinary shares to investors at 10 naira per share. Transcorp Hotels is the hospitality subsidiary of Transcorp (Transnational Corporation of Nigeria Plc) and it plans […]

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Why Ebola Won’t Affect Residential Property Prices

Exploring the implications that macroeconomic, global and in this case medical factors have in every sector is always an engaging experience. The Ebola virus which recently found its way past Nigeria’s borders will almost certainly have wide-spread implications on the perception of Nigeria as well as her economy. But the question is where will these implications be felt, and […]

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Ebola Impact on Lagos Hospitality & Travel Market

Preliminary data, as reported by Bismarck Rewane, of Financial Derivatives Company, has shown a significant drop in hotel occupancy since the first reported case of Ebola in Lagos State. The disease has been reported in Guinea (where the first case was reported), Liberia and Sierra Leone.  Ebola made its first reported appearance in Lagos, Nigeria in […]

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$500 million investment in Starwood hotels coming to Nigeria’s hotel market

The Nigerian hotel market will see an estimated $500 million in investment with the planned addition of five Starwood hotels in the coming years.  This was revealed this weekend, in a monthly report by financial services firm, Financial Derivatives Company (FDC), presented at the Lagos Business School’s executive breakfast meeting by Bismarck Rewane, Managing Director/Chief […]

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Calabar International Convention Center

Photos Updated 4th September 2015 Name: Calabar International Convention Center Location: Summit Hills, Calabar  – Cross River State Investor/Developer: Cross River State Government  Architect: Henning Larsen Architects Gross Floor Area: 16,000m2 Completion Date: May 2015 Capacity: 5,000 delegates Size of Investment: $90m The Calabar International Convention Center (CICC) will be located in the mixed use Summit Hills development in Cross […]

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Lagos has 5th Highest Hotel Average Room Rate

According to the latest Hotel Survey from HRG, supercities led the charge in global hotel room rate rises. Historically, average room rates (ARR) tend to be affected on a national basis, but this report demonstrated that this was no longer the case. Individual “supercities” (destinations popular for both business and leisure visitors) are increasingly becoming bigger players in […]

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