Marriott International targets 200 Africa hotels

At the Africa Hotel Investment Forum (AHIF) in Nairobi, Kenya, Marriott International (NASDAQ: MAR) (www.Marriott.com) announced its rapid expansion plans across Africa.

Strong demand for select-service brands and conversion opportunities are driving the momentum of growth for the company, amplified by five new hotel signings which will further consolidate its presence in Ghana, Kenya, Morocco, South Africa and mark its entry into Mozambique.

The signings put MI 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 job opportunities.

MI’s planned growth reinforces its commitment to Africa and underscores the substantial emphasis that countries across Africa are placing on the travel and tourism sector.  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.  

“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. Today we are seeing strong owner interest in our brands, backed by our combined loyalty program, the collective strength of our global platform and our highly-experienced, local teams,” 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.

Today, Marriott International is present in 21 countries on the African continent: Algeria, Djibouti, Egypt, Ethiopia, Gabon, Ghana, Guinea, Kenya, Malawi, Mali, Mauritius, Morocco, Namibia, Nigeria, Rwanda, Seychelles, South Africa, Tanzania, Tunisia, Uganda and Zambia; and it’s set to expand into new markets including Benin, Botswana, Ivory Coast, Mauritania, Mozambique and Senegal.