Browsing: Radisson Hotel Group

• In the past two years, short-term rentals in Nairobi have been the new trend.
• Hospitality has bounced back remarkably after the challenges posed by the COVID-19 pandemic, emerging as one of the best-performing asset classes in 2023.
• Trappler highlights that hospitality is a key economic driver, employment creator, and focal property type in regions throughout East Africa.

Hospitality has bounced back remarkably after the challenges posed by the COVID-19 pandemic, emerging as one of the best-performing asset classes in 2023. This resurgence is particularly notable in Nairobi, especially with the renewed demand for short-term rentals.

The strategic position of Kenya’s capital city serves as an East African hub for various industries, including corporate, government, MICE (Meetings, Incentives, Conferences, and Exhibitions), embassies, and tourism, which makes it an attractive destination for hospitality and residence brands.

The increasing and diversifying demand for accommodation creates meaningful opportunities for market expansion and business growth.…

• Egypt and Nigeria markets remain the top targets of international hotel chains. 
• New hotels’ pipeline in sub-Saharan Africa has gone up six per cent in 2022 (measured by rooms), whilst in North Africa the total has risen by four per cent.
• At the moment, the hotel chains have deals signed in 42 countries in Africa.

Africa remains a top investment destination by global hotel chains as brands pump in billions of dollars into putting up facilities in the continent, an industry survey now shows.

The African hotel chain development pipeline now totals 482 hotels with 84,427 rooms, the W-Hospitality Group report titled ‘Hotel Chain Development Pipeline Africa’, indicates.

This total was analysed initially according to two main regions, that is, North Africa where it looked at five countries – Morocco, Algeria, Tunisia, Libya, and Egypt, and sub-Saharan Africa (49 countries, including the Indian Ocean islands).

The pipeline in …

While the hospitality sector was one of the most hit during the pandemic, it has also been among the fastest to rebound on the African continent.

According to a recent W Hospitality survey, hotel chains signed 447 transactions in 2021, and the number of rooms (80,291 rooms) added to their development pipeline is nearly the same to 2019

Marriott Hotel & Resorts, Hilton, and Radisson Blu are the most active hotel brands in terms of on-site construction.

According to the report, the on-site construction period is often beneficial to hotel chains and many others involved – a new hotel implies more jobs, tax money for the government, increased economic activity in the value chain, more advertising spending for the location, and so on.…

Kenya’s capital-Nairobi could soon have an oversupply of hotel rooms, latest trends have indicated, in the wake of heavy investments in the hospitality industry.

Whilst the inclination reflects investor confidence in the country as the city continues to attract high level conferences and investments by multinationals and locals, concerns are now that an oversupply will drawback returns in the industry as hotels scramble to fill rooms.

Average occupancy in the city’s high end hotels (three to five star) remains at 52 per cent, with the number of hotel rooms tripling in the last five years to more than 19,000.

A recent report by consultancy firm PricewaterhouseCoopers (PwC), estimates that the number of available rooms will increase to above 21,000 in the next two years.

READ:Kenya, Ethiopia whet the appetite of Hyatt Hotels for East Africa

This comes as investments in high end hotels continues to be driven by international …