From the Africa Hotel Investment Forum in Addis, Marriott International reinforced its commitment to Africa by announcing it expects to add 40 properties and over 8,000 rooms across the continent by the end of 2023, according to APO Group.
As to the press release, the company also announced signed agreements to open its first property in Cape Verde and further expand its presence in Ethiopia, Kenya and Nigeria. Marriott’s development pipeline through 2023 is estimated to drive investment of over 2 billion USD from property owners and is expected to generate over 12,000 new jobs in Africa.
Marriott International’s current portfolio in Africa encompasses close to 140 properties with more than 24,000 rooms across 14 brands and 20 countries and territories.
“Africa is a land of opportunity with untapped potential and remains core to our strategy,” said Alex Kyriakidis, President and Managing Director, Middle East & Africa, Marriott International. “The economic growth the region is witnessing, along with the substantial emphasis countries across the continent are placing on the travel and tourism sector, present us with immense opportunities for growth.”
“With compelling, well-established lifestyle brands and Marriott Bonvoy, our industry-leading travel program, we continue to offer different attributes that resonate with the region’s fast-growing middle class and cater to its evolving market place,” Kyriakidis added.
Marriott’s expected growth through 2023 is driven by a strong demand and steady growth for its premium and select-service brands– led by Marriott Hotels with eight anticipated openings and six slated openings under Protea Hotels by Marriott. The company is expected to introduce the Courtyard by Marriott, Residence Inn by Marriott and Element Hotels brands.
Marriott also continues to see growth opportunities for its luxury brands and expects to double its luxury portfolio in Africa by year-end 2023, with more than ten new openings across The Ritz-Carlton, St. Regis, Luxury Collection and JW Marriott brands. The company also expects to launch W Hotels in Africa with the opening of W Tangier in Morocco by 2023.
Key markets fuelling Marriott’s growth in Africa include Morocco, South Africa, Algeria and Egypt.
“Marriott’s established presence and local expertise in Africa, along with our diverse brands and the collective strength of our global platform, put us in a great position to further enhance our footprint in the region where owners are looking to develop high-quality lodging with brands that can differentiate and elevate their product,” commented Jerome Briet, Chief Development Officer, Middle East & Africa, Marriott International.
The company announced three deal signings, further reinforcing its commitment to Africa and the significant growth opportunity the region continues to provide.
The Ethiopian Herald Sept 29/2019
BY MEHARI BEYENE
