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Marriot Inks Five New Deals In Africa, Projects To Increase Portfolio by 50 % by 2023

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Marriot Inks Five New Deals In Africa, Projects To Increase Portfolio by 50 % by 2023

Marriott International has announced new signings that will further consolidate its presence in Ghana, Kenya, Morocco and South Africa and mark the company’s entry into Mozambique. It was announced today during the African Hotel Investment Forum (AHIF) in Nairobi, Kenya.

The signings put Marriott International on track to increase its portfolio by 50 percent with over 200 hotels and 38,000 rooms by 2023 estimated to generate 12,000 new job opportunities.

Strong demand for select-service brands and conversion opportunities are driving the momentum of growth for the company, amplified by five new hotel signings.

Marriott International’s planned growth reinforces its commitment to Africa and underscores the substantial emphasis that countries across Africa are placing on the travel and tourism sector. The company estimates that the five new projects signed will drive investment of over $250 million by the property owners and will generate substantial economic activity.

Alex Kyriakidis, President and Managing Director for the Middle East and Africa, Marriott International said that Marriott’s acquisition of Protea Hotels followed by the acquisition of Starwood Hotels & Resorts Worldwide has given an impetus to their organic growth on the continent.

“Today we are seeing strong owner interest in our brands, backed by our combined loyalty program, the collective strength of our global platform and our highly-experienced, local teams,” he said

He added that African economies have sustained unprecedented rates of growth, which have mainly been driven by a strong domestic demand, improved macroeconomic management and increased political stability.

According to Kyriakidis, Africa is still under capacity as far as branded hotel supply is concerned, presenting Marriot with a fantastic opportunity to grow its brands and enhance its footprint.

Today, Marriott International has presence in 21 countries on the African continent: Algeria, Djibouti, Egypt, Ethiopia, Gabon, Ghana, Guinea, Kenya, Malawi, Mali, Mauritius, Morocco, Namibia, Nigeria, Rwanda, Seychelles, South Africa, Tanzania, Tunisia, Uganda and Zambia. The company is set to expand into new markets including Benin, Botswana, Ivory Coast, Mauritania, Mozambique and Senegal.

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