GROWING DEMAND DRIVING SUB-SAHARAN AFRICAN HOTEL DEVELOPMENT
According to W-Hospitality Group, 2016 saw Sub-Saharan Africa experience a 29.2% year-on-year increase in the hotel development pipeline (365 hotels with 64 321 rooms). JLL Group also predicts investments of $1.7bn and $1.9bn in the region’s hotels in 2017 and 2018 respectively.
Watch this space! Prospects for the continent are also promising as investors are eyeing the growing African middle class and their travel needs. By 2030, it is predicted that Africa’s top 18 cities would have a combined spending power of $1.3tn.