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Starwood Plans More African Hotels as Travel Demand Rises - Bloomberg (bloomberg.com)
Starwood Hotels & Resorts Worldwide Inc. (HOT)
plans to add as many as 20 hotels in Africa over the next four years as
the U.S. owner of the Sheraton and St Regis brands takes advantage of
rising travel on the continent.
The U.S. company is seeking to
add mainly five-star properties to its existing set of 37 hotels, Neil
George, senior vice president for acquisitions and development in Africa
and the Middle East, said in an interview.

Five of the new sites are earmarked for Nigeria, Africa’s biggest economy and most populous nation with about 170 million people.
“We
are extremely positive about Africa,” George said yesterday in
Johannesburg at the Hotel Investment Conference Africa. “There are
massive opportunities there. It’s mostly management contracts.

It’s our
preferred vehicle for growth.” International hoteliers are
seeking to expand in African countries to exploit an increase in travel
and higher economic growth rates than in the U.S. and Europe. Marriott International Inc. (MAR),
the world’s second-largest publicly traded hotel chain, bought Cape
Town-based Protea Hospitality Holdings for about $200 million in April.

Taj
International Hotels Ltd. plans to have as many as six new hotels in
sub-Saharan Africa over the next two years, Michael Pownall, general
manager of the company’s Cape Town outlet, said in an interview at the conference. Taj, a unit of India’s Tata Group, is targeting Kenya, Mozambique, Nigeria, Ethiopia and the Democratic Republic of Congo.


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Photographer: Daniel Acker/Bloomberg



Starwood Hotels & Resorts Worldwide Inc., is owner of luxury brands including St. Regis and W Hotels.




Nigeria Popular

“We’d love to get a presence of
one or two hotels in each of the targeted countries,” Pownall said. “In
Nigeria, we are keen on Lagos and Abuja.” Nigeria, the
continent’s biggest oil producer, is also attractive to Carlson Rezidor
Hotel Group. The closely held U.S. operator of the high-end Radisson Blu
chain has 30 hotels under development in Africa, with four planned in
Nigeria, it said yesterday....

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