Hotel development continues to grow in Sub-Saharan Africa with a 42 percent increase in the construction pipeline, according to research from Lagos-based W Hospitality Group. Hotels under contract play out as follows:
A host of international hotel brands is represented in Nigeria, including Radisson Blu, Four Points by Sheraton, Ibis, Legacy, Accor, Hilton, IHG, and Protea. Additional groups that plan to enter the market include Kempinski, Mantis, Marriott, and Wyndham.
“A raft of economic studies show economic growth in Sub-Saharan Africa to be very impressive, averaging around 6 percent, which is twice the global average,” says Jonathan Worsley, chairman of Bench Events, which organizes the Africa Hotel Investment Forum. “The World Travel & Tourism Council (WTTC) predicts that travel and tourism GDP growth will be 5 percent year on year for the next decade. Therefore, I expect we will see the level of interest in Africa from the international hotel investment community continuing to increase.”
