Hotels Investment Forum Spawns Agreement for Eleventh International Brand

Novotel four-star hotel will cost the developers 25 million dollars.

The Fifth Africa Hotels Investment Forum (AHIF) has seen Nibras Hotel Plc, a local company, and Accor Hotels Group signing a technical assistance and management agreement for the hotel which will be established in a building currently being constructed near Banco di Roma at Piazza.

This agreement signed on Thursday October 1, 2015, followed another international agreement signed between Sunshine Business Plc and Hilton Worldwide on September 29, 2015.

The Nibras-Accor deal, for the Novotel brand, was facilitated by Calibra Hospitality Consultancy & Business Plc, a hotel consultancy firm, which, last year, was behind the signing of six similar agreements. Novotel, a four-star brand, is one of 17 international and regional hotel brands managed by Accor. It has a presence in 92 countries, where it operates approximately 4,000 hotels around the world.

This will lead international brand hotels to have a franchise agreement with Ethiopian hotel developers while the management will be done by locals, according to Neway Berhanu, managing director of Calibra.

Read more at: AddisFortune.com