Marriott International announces massive expansion across Africa, acquires Protea and Starwood hotels Updated for 2021

82,095FansLike
2,966FollowersFollow
2,700SubscribersSubscribe
82,095FansLike
3,122FollowersFollow
2,700SubscribersSubscribe

Updated: March 5, 2021


Marriott International on Monday announced that it had acquired Protea Hotels followed by the acquisition of Starwood Hotels and Resorts worldwide.

The company also announced five new hotel signings in Ghana, Kenya, Morocco, South Africa and Mozambique. 

[read_more id="2" more="Read full article" less="Read less"]

While Marriot was already present in 21 African countries, it is marking its entry into Mozambique.

The new signings put Marriott International on track to increase its portfolio by 50 percent with over 200 hotels and 38,000 rooms by 2023 estimated to generate 12,000 new jobs.

The company estimates that the five new projects signed will drive investment of over $250 million by the property owners and will generate substantial economic activity.

The announcement was made at the Africa Hotel Investment Forum (AHIF) in Nairobi, Kenya, according to a statement sent to TODAY NEWS AFRICA in  Washington DC.

Marriott International is present in 21 countries on the African continent, including in Algeria, Djibouti, Egypt, Ethiopia, Gabon, Ghana, Guinea, Kenya, Malawi, Mali, Mauritius, Morocco, Namibia, Nigeria, Rwanda, Seychelles, South Africa, Tanzania, Tunisia, Uganda and Zambia.

The company says it is set to expand into new markets including Benin, Botswana, Ivory Coast, Mauritania, Mozambique and Senegal.

“Marriott International’s acquisition of Protea Hotels followed by the acquisition of Starwood Hotels & Resorts Worldwide has given an impetus to our organic growth on the continent,” said Alex Kyriakidis, President and Managing Director, Middle East and Africa, Marriott International.

“African economies have sustained unprecedented rates of growth, which have mainly been driven by a strong domestic demand, improved macroeconomic management and increased political stability. The continent is still under capacity as far as branded hotel supply is concerned, presenting us with a fantastic opportunity to grow our brands and enhance our footprint,” he added.

[/read_more]

Simon Ateba
Simon Ateba
Simon Ateba covers the White House, the U.S. government, the International Monetary Fund, the World Bank and other financial and international institutions for Today News Africa in Washington D.C. Simon can be reached on simonateba@todaynewsafrica.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

TRENDING

Confidential U.S. government report concludes Ethiopia Prime Minister Abiy Ahmed leading ethnic cleansing in Tigray region

A confidential U.S. government report has concluded that the government of Prime Minister Abiy Ahmed in Ethiopia along with allied militia fighters are leading a systematic campaign of ethnic cleansing in Tigray."Whole villages were severely damaged or completely erased," the report, first obtained by The New York Times, says.It adds that fighters from the neighboring Amhara region of Ethiopia who moved to Tigray...

Stay connected

[/read_more]

[read_more id="2" more="Read full article" less="Read less"]

error: Alert: Content is protected !!
Share
Tweet
Reddit
Pocket
Share
More