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The race for development that has been going on for some time now in hotel groups in Africa is starting again. The French champion AccorHotels, which currently has 114 facilities there, is releasing gas thanks to a partnership with the Qatari group Katara Hospitality, which is at the same time owner, developer and manager of high-end hotels. range. The two parties announced Monday the creation of an investment fund with at least one billion dollars to place under AccorHotels signs forty establishments, for "about 9,000 rooms" to total, located in sub-Saharan Africa.
High demand
This fund will have $ 500 million of equity capital, contributed respectively by Katara Hospitality of $ 350 million and AccorHotels by $ 150 million over the next five to seven years. . In addition, another 500 million will come from the use of indebtedness and investments made jointly with other partners, said the protagonists. The billion collected will be used for the construction of new hotels and the acquisition of existing units.
The Qatari Franco duo intends to rake broad with its forty hotels aimed since wanting to cover the hotel industry from economy to luxury, as well as hotel residences. However, it is said in the French group, "the priority will be given to the mid-range segment economy, given the strong demand for business travel in sub-Saharan Africa where there is very little ".
Strong interest
It should be noted that with this partnership AccorHotels is tightening its ties with Qatar, its second largest shareholder (10.2% of the capital), Katara Hospitality is an offshoot of the sovereign wealth fund of the QIA emirate. Likewise, its status as a co-investor of the fund deserves to be underlined insofar as AccorHotels' hotel development strategy is based on a limited recourse to its own funds … This agreement with Katara Hospitality intervenes however on time where Africa, familiar ground of the French group – it is present for more than 40 years -, arouses the strong interest of its competitors.
Last October, the American Marriott International, the world leader of the hotel, had announced plans to bring its fleet of 140 hotels to more than 200 by 2022 – more than 37,000 rooms futures – an investment program of about $ 8.5 billion, to achieve with real estate partners. The US giant had fired a first salvo in 2014 with the acquisition of the South African Protea Hotels for 210 million.
Rush Generalized
On its side, Hilton announced, last October also, the commitment $ 50 million over five years to continue its expansion in sub-Saharan Africa with the passing under some of its brands of about 100 hotels representing 20,000 rooms. The American then said he already has 29 projects in the region for 19 units in operation. Another example of this widespread rush on Africa, Louvre Hotels Group has just announced the creation of an unprecedented complex of 411 rooms under three brands – Première Classe, Campanile and Kyriad – in Casablanca. At this stage, the French subsidiary of the Chinese giant Jin Jiang has nearly 20 projects in Africa, knowing that its park has 26 units.
Christophe Palierse
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