Browsing: Tourism in Africa

Hotel Online travel tech in Africa (www.theexchange.africa)

The acquisition of equity on HotelOnline for an undisclosed amount enables the Asian travel company to make sales and introduce its travel-based SaaS (Space as a service) technology in Africa. This is part of the $1.7 billion investment that the Korean company raised last year from SoftBank Vision Fund 2, one of the world’s largest technology-focused investment funds.

Yanolja is scheduled to go public on NASDAQ in 2023 and they have the backing of global travel leader Booking.com.

Jongyoon Kim, CEO of Yanolja Cloud has been on the record emphasizing the need to enter into a partnership with a major African travel entity and the pursuit seem to have been achieved.

The continent’s most promising markets are South Africa, Kenya, Nigeria, Mauritius and Tanzania.

According to a PwC report, Hotels outlook: 2019–2023 Future resilience, South Africa would see some sustained but suppressed growth through 2019 hitting R16.8 billion from the R16.7 billion recorded in 2018. With the pandemic, this growth slowed down but the recovery is promising especially with the lockdowns and other safety measures dropped.

The report indicates that overall revenue from hotel room accommodation rose by 0.5 per cent with international visitor numbers to South Africa continuing on an upward trajectory at just 1.7 per cent over 2017 numbers.

“We forecast that hotel room revenue will grow by 0.4 per cent in 2019 to R16.8 billion with a compound annual growth rate of 3.3 per cent over the forecast period. The growth in hotel rooms in South Africa will continue, with an additional 3,800 rooms to be added over the next five years. We also forecast occupancy rates to continue to grow over the forecast period and to reach 61.1 per cent in 2023.”