Hotel and Resorts are some of the viable investment that contributes to the growth of a nation’s economy. They are especially handy in the tourism growth of a nation.
However, with Africa seen as the next investment hub, other continents are starting to pitch their tents in the continent.
In this report, I have selected eight (8) of such investments which I believe have the will boost the Gross Domestic Profit (GDP) of whichever African countries they find themselves. While some of these (Hotel and resorts) have been established; some involve investment plans of the firm that owns them.
So here are some of the investments to look out for in the coming year (2013). Enjoy:
1. Emfuleni’s $115m Port Elizabeth Hotel: Emfuleni Resorts launched a new $115m five-star hotel and convention centre in Port Elizabeth. The project is part of the Broadwalk Casino and Entertainment World, which was opened in 2001.
According to Bongi Siwisa, Chairperson of Emfuleni Resorts, “This is the largest single entertainment and tourism investment in the Nelson Mandela Bay Metro, and is a vote of confidence in the region.”
2. Marriot Hotel In Lagos: Nigerian business leader, Jim Ovia signed a multi-billion naira agreement with Quantum Luxury Properties Limited (Quantum Capital) to build the prestigious Marriot Hotel in Nigeria. The planned five-star hotel which will be located on the Ozumba Mbadiwe waterfront Victoria Island, Lagos with about 150 star rooms. It is expected to be launched in 2014.
3. City Lodge African Expansion project: South Africa’s hotel chain, City Lodge began its expansion plan to other African countries with the opening of its first lodge outside its home-base in Gaborone, Botswana. With 106 rooms available for travelling customers, the Botswana investment stands at 50 million Pula ($6.25 million). The group hopes to see rapid expansion across the African continent with the opening of 20 new hotels over the next 5 to 10 years. Countries that have been considered in the expansion include Kenya, Malawi, Mozambique, Namibia, Zambia, and Zimbabwe.
4. Hilton’s Double Tree Project: World leading hotelier, Hilton Worldwide, signed a deal with local operator, Upper Eastside Hotel Ltd., to launch a new DoubleTree by Hilton hotel in Cape Town, South Africa. The new property will be the Hilton’s fifth property in South Africa and it’s second in Cape Town. The rebranded hotel will operate as a franchise with owners Upper Eastside Hotel (Pty) Ltd.
5. Emaar Property’s African Investment: Dubai’s Emaar Property, one of the world’s most valuable companies, sealed an agreement to build its five star premium hotel brand, “The Address Hotels + Resorts brand” near the world famous national park, Masai Mara (Africa’s greatest wildlife reserve) in Kenya. A similar contract was sealed to build The Address Marassi Golf Resort & Spa in Egypt. “Emaar group has thrived in Dubai and our country will benefit tremendously from the expertise, international standards and practices that they bring. Emaar Hospitality Group has responded favourably to our country’s call for more investment in tourism and the Masai Mara venture is a timely boost to the sector,” Kenya’s Tourism Minister, Danson Mwazo, remarked on the investment.
6. Four Seasons Hotels and Resort Africa Debuts: Four Seasons Hotel &Resorts launched its first Africa business operation in mid-2012 as it takes over management at Bilila Lodge, a resort in the legendary Serengeti National Park, Tanzania with the largest concentration of plains animals in Africa. “The new lodge is inside the Park and features 60 rooms, 12 suites, and 5 villas, all with direct views over the Serengeti. Designed with contemporary African architecture sympathetic to the natural landscape, the focal point is a two-story great house, housing several indoor and outdoor dining options, a Spa, and an infinity-edge swimming pool overlooking an active watering hole – you can view elephants and other wildlife form the pool. Elevated wooden walkways connect the great house to guest rooms and the villas, and nature is on display day and night, including a herd of more than two dozen elephants that visit frequently.”
7. Tarquin Wood, a Kenyan farmer is planning to establish a multi-million dollar golf resort near the world-famous Maasai Mara Game Reserve. The resort which will be established under the flagship of his company-Olerai Ltd. is expected to take the pressure off the game reserve and offer alternative activities like golf and tennis.
8. Starwood Investments: World leading hotelier and owner of Sheraton and Le Méridien Hotels -Starwood Hotels & Resorts Worldwide Inc. plans to strengthen its position in Africa by adding 10 new hotels in the next three years. The company already has an existing portfolio of 38 hotels, representing more than 10,000 rooms under its Sheraton and Le Méridien® brands but it is aiming to increase its African portfolio by nearly 30 percent while adding more than 4,200 guest rooms to the continent and creating thousands of local employment opportunities.
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