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Quantum Global’s Hotel Fund Acquires Mövenpick Ambassador Hotel Accra

ACCRA (Capital Markets in Africa) – QG Africa Hotel LP, a Mauritius-based investment fund managed by Quantum Global Investments Africa Management Ltd., today announced the acquisition of the Movenpick Ambassador Hotel Accra from Kingdom Holding Company (KHC). The transaction which closed on 28 December 2016 marks the most sizable open-market hotel transaction in Sub-Saharan Africa to date. Complementing Quantum Global’s already significant African investment portfolio the value proposition of this transaction is underpinned by its…

Marriott International Expands Presence in Algeria with Opening of Sheraton Annaba

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ALGIERS (Capital Markets in Africa) – Marriott International, Inc, today announced further expansion in Algeria with the opening of its seventh hotel in Algeria, Sheraton Annaba. The company already operates six hotels in Algeria including Constantine Marriott Hotel, Renaissance Tlemcen Hotel, Sheraton Club des Pins, Sheraton Oran, Le Meridien Oran and Four Points by Sheraton Oran amounting to 1580 rooms. With another six hotels under development, the company is set to double its footprint in…

Marriott International debuts First Hotel in West Africa in Conakry

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CONAKRY (Capital Markets in Africa) – Sheraton Hotels & Resorts, part of Marriott International, Inc. (NASDAQ:MAR), today announced the debut of Sheraton Grand in Africa with opening of Sheraton Grand Conakry, welcoming it to the brand’s premier tier of hotels recognized for their exciting destinations, distinguished designs, and excellence in service and guest experiences. The newly built hotel marks Marriott International’s entry into Guinea, West Africa and joins a portfolio of more than 35 Sheraton…

Cautious Optimism for Investors in Sub-Saharan Africa Hotel Sector

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KIGALI (Capital Markets in Africa) – Investor sentiment for hotels in Sub-Saharan Africa remains positive despite economic headwinds in key markets, according to the latest JLL research (http://APO.af/4zhrDO) into the sector. The long-term outlook continues to be strong and is driven by positive economic, demographic and tourism trends, with all indicators pointing to continued hotel demand growth as the region’s economy and hotel sector continue to mature. Speaking at the Africa Hotel Investment Forum in Kigali,…

Marriott International Rapidly Expands its Footprint across Africa

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KIGALI (Capital Markets in Africa) – Marriott International continues its robust expansion across the African continent with news of brand-new signings of new properties in Cape Town, Nairobi, Cairo, and Mauritius. This announcement comes hot on the heels of Marriott’s recently completed acquisition of Starwood Hotels and Resorts, which has created the world’s largest hospitality. The transaction has increased Marriott’s distribution in Africa, thus affirming the company’s number one position across the continent. “The past…

Carlson Rezidor on Track to achieve More than 23,000 Rooms in Africa

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KIGALI (Capital Markets in Africa) – An accelerated African growth strategy for Carlson Rezidor, one of the world’s largest hotel groups, is on track to achieve its target of more than 23,000 rooms open or under development in Africa by the end of 2020. Rezidor’s President and CEO, Wolfgang M. Neumann, who is a speaker at the Africa Hotel Investment Conference in Kigali, Rwanda, says the hotel group launched its accelerated African growth strategy in…

Hilton Expands Presence in Nigeria with Signing of Hilton Lagos Airport

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LAGOS (Capital Markets in Africa) – Hilton (www.HiltonWorldwide.com) has announced the signing of a management agreement with Quality Inspection & Testing Services Limited to open a 350 guest-room and suite hotel at Lagos’ Murtala Muhammed International Airport, Nigeria. The hotel, which was signed at AHIF 2016 in Rwanda, is set to open in 2023 and joins Hilton’s growing African portfolio of more than 80 properties trading or in the development pipeline, which will see Hilton…

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