The African Hotel Report 2017 Nigerian Hotels are the most valuable on the African mainland
Nigerian hotels are the most valuable hotels on the African mainland, according to the African Hotel Report 2017 that will be released at the Africa Hotel Investment Forum in Kigali tomorrow.
Despite the economic problems experienced by the market in recent years that have seen values fall by 16.4% in the last two years, average values are the third highest in all of Africa, behind only the Seychelles and Mauritius, according to David Harper of Hotels Partners Africa, the report’s author.
Nigeria is the most significant hotel market in west Africa, with almost 6,100 branded bedrooms across 41 hotels, with 21 brands (and 14 hotel companies) represented in 9 cities. With a population of almost 192m, growing at an estimated 2.6% per annum and with the largest economy on the continent, it is unsurprising that more hotel projects (61) and more branded bedrooms (10,313) are proposed here than in any other country on the continent.
“This report shows that the hotel industry in Africa is still a very good investment, despite the cyclical nature of the property market. However, good advice is vital to help ensure you make the most of this very promising investment opportunity and avoid some of the potential pitfalls that can ensnare the less experienced hotel investor”
About Hotel Partners Africa
Hotel Partners Africa is a collaboration between a highly proactive team of specialists who have created a one-stop shop to advise and serve clients in the hospitality sector throughout sub-Saharan Africa. We have built long-standing relationships with branded hotel chains, developers, fund managers and property owners. In the complex world of hotel development and management, HPA will guide a client through the processes and requirements for satisfying funders, managing risk, overseeing cost efficient and fit-for-purpose construction, contract negotiation with operators, asset management, valuation, sales and acquisitions.
About the Africa Hotel Investment Forum (AHIF)
AHIF is the premier hotel investment conference in Africa, attracting many prominent international hotel owners, investors, financiers, management companies and their advisers. It is organised by Bench Events (www.benchevents.com), who has a long track record of delivering multiple premium hotel investment conferences and forums across Europe, the Middle East, Africa, Asia and Latin America. Bench Events’ mission is enabling prosperity by facilitating growth, networking, and thought leadership in the hospitality industry worldwide. www.benchevents.com.
Sponsors of AHIF are: Host Sponsors: Rwanda Development Board; Platinum Sponsors: AccorHotels, Hilton, Marriott International and The Rezidor Hotel Group; Gold Sponsors: Areen Design, Best Western, Cabo International Partners B.V., Colliers International, Grant Thornton, Horwath HTL, Hotel Partners Africa, Insignia, JLL, Kempinski, Minor Hotels, Mövenpick, Profica, STR, Swiss Education Group and Wyndham Worldwide.
Source: Bench Events
