Key markets in Accor’s growth plan include SA, Nigeria and Ethiopia, where it will open three, 10 seven hotels respectively by 2020
Nairobi — Accor SA will open 60 new hotels in 14 countries in Africa in the next four years, its CEO for Middle East and Africa Mark Willis said.
“Egypt is resurrecting after 10 years of a tough situation,” Willis said in an interview in Nairobi, Kenya. Egypt has overtaken Kenya’s coastal region as the preferred destination for European tourists and investors, he said, and revenue per available Accor room there has risen 20% year on year. The continent has sustained unprecedented rates of economic growth, driven chiefly by sturdy domestic demand, better macroeconomic management and improving political stability.Key markets in Accor’s growth plan include Nigeria, Ethiopia and SA, where it will open 10, seven and three hotels respectively by 2020. Accor has 143 hotels in Africa, 63 of them south of the Sahara, and will promote its Movenpick luxury brand, Willis said.
It may expand through mergers, acquisitions and partnerships on the continent, including in SA, where Accor is already considering several opportunities, Willis said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WC municipalities ranked as best in SA - Good Governance Africa indexThe province municipalities dominate the list, with Mossel Bay rated as the top-performing municipality in the country while the lowest ranked municipality in the Western Cape comes in at number 59 on the list of 213 municipalities.
Read more »
SA rugby hits transformation targetSA Rugby achieved 60% of the targets agreed with the department of sport & recreation, while 11 out of 19 sporting bodies failed to make the cut
Read more »
Newsdeck: Severe storm dumps massive rain on SA – KZN, Northern Cape provinces worst affectedThe South African Weather Service (SAWS) has issued a number of severe warnings for SA as a weather system dumps rain across the country.
Read more »
BUSINESS MAVERICK: China, South Africa and the middle-income trapChina and South Africa seem so distant and so different. Chinese economic growth has been fabulous; over the past decade, South Africa’s has been miserable. China is enormous; SA is small… and so on. But in one singular respect, China and South Africa are similar — they may be both caught in the middle-income trap. If there is such a thing.
Read more »
PIC may be about to get new CEO, say sourcesKennedy Bungane, formerly head of Barclays Africa Group outside SA, is rumoured to be the embattled fund manager’s new chief
Read more »
FoodForward SA sets goal to feed 1 million people daily for 5 years | IOL NewsFoodForward SA, has set itself a goal of reaching one million people daily within five years as part of its vision of 'a South Africa without hunger'.
Read more »
OUR BURNING PLANET: Standard Bank withdraws funding of new coal IPP projects in SAIn a setback for coal-fired power generation and a victory for the renewable energy lobby, Standard Bank will not provide funding for two new independent coal-fired power stations. This follows similar announcements by Nedbank and FirstRand and is in line with new protocols announced by the Organisation for Economic Co-Operation and Development.
Read more »
SA to launch Mama Albertina Sisulu stampThe anti-apartheid struggle icon died on June 2, 2011.
Read more »
Malema wants to remove borders in SA - but how will it work?The EFF leader told Eusebius McKaiser if countries don't pay their bills for their people's services here, there would be consequences.
Read more »
Klawervlei Stud back as national sale starts on WednesdayBloodstock SA and CTS agree there is room on the calendar for both to hold sales
Read more »