Hospitality investment platform Kasada acquires 1602-room hotel portfolio from AccorInvest

SOUTH AFRICA – Kasada Capital management through its Kasada Hospitality Fund LP (“Kasada”), has acquired a portfolio of Sub-Saharan African Hotels from AccorInvest. The landmark deal is one of the largest cross-border hospitality mergers and acquisition transactions in Africa and will see Kasada take control of eight fully operational hotels across three countries – Ivory Coast, Senegal, and Cameroon – comprising 1,602 hotel rooms focussed on servicing intra-regional business travel in Africa. In taking on full ownership and management of the portfolio, Kasada, a game-changer for hospitality in Africa, has…

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Hotel chains grow in Africa despite COVID-19

AFRICA —Africa’s tourism sector has suffered in the face of the coronavirus but the world’s biggest hotel chains remain committed to the continent. Major hotel chains, from Marriott International  to Radisson Hotel Group and Paris-based Accor, Europe’s largest hotel company, say their African businesses are not only holding up, they are determined to stay on track with, if not grow, their footprints. The companies see sub-Saharan Africa as underserved and underdeveloped in terms of hotels and predict that demand for both business and leisure travel will grow once the pandemic abates. “I haven’t…

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Hotel development in Africa to be affected by COVID-19 – report

AFRICA – The Covid-19 pandemic will impact the development of new hotel properties in Africa, reveals a new survey by the W Hospitality Group – shattering the dreams of Africa’s hotel industry. According to the survey, the African hotel development had returned to growth at the start of 2020, with more than 78,000 rooms in 408 hotels in the pipeline. “The growth of the chains’ presence in Africa has been a very positive story since we started this analysis in 2009. It is quite clear from the numbers that the…

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Opportunities in investing in Africa’s hotel industry substantially outweigh the threats, says Philippe Doizelet

AFRICA – Today, Africa is seen as one of the most promising regions for hotel developers. Aside from small chains and independents, four global hotel groups dominate signings and openings on the continent. Over the last four rolling quarters, as of September 2019, Accor, Hilton, Marriott International and Radisson Hotel Group have opened 2,800 rooms and signed deals for 6,600 rooms. Across Africa, hotel development remains important in most advanced economies, such as Morocco and South Africa; and projects are multiplying in East Africa, especially in Ethiopia, Kenya, Tanzania and…

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Accor hotels launches world-first Mantis Eco-Lodge Innovation Hub in South Africa

AFRICA – Accor hotels, a French multinational hospitality company has reaffirmed its commitment to sustainable tourism development on the African continent at Africa Hotel Investment Forum (AHIF 2019), as it unveils the world’s first Eco-Lodge Innovation Hub by Mantis, the brand in which it has a 50% stake. The one-of-a-kind concept, which will be launched in early 2020 at South Africa’s famous Mantis Founders Lodge, will bring together conservation partners from across the globe to showcase the future of eco-travel to potential investors and sustainability-minded travellers. Mantis will build five…

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