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.
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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 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.
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“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.