[ad_1]
AccorHotel and Katara Hospitaly decided to set up a $ 1 billion joint investment fund, largely dedicated to hospitality investment in sub-Saharan Africa. The fund will consist of $ 500 million of shares, of which Katara Hospitality and AccorHotels will contribute $ 350 million and $ 150 million respectively over the next 5 or even 7 years, with additional leverage and co-financing capacity. -investments. At first sight, the fund will target greenfield projects, brownfields and renovations of existing hotels through an acquisition system.
" Present for more than 40 years in Africa, we also know that there are increasingly important needs for quality hospitality ", said Sebastien Bazin, President and CEO of AccorHotels, before adding that: " thanks to this fund, we will combine the expertise of Katara Hospitality and AccorHotels' world-leading brand portfolio to accelerate our growth momentum in the sub-Saharan region. "
An African Ambition
The burgeoning group, wants to give itself the means to its ambitions in Africa. Already, last April, in an interview with La Tribune Afrique Sébastien Bazin, gave an idea of the vast projects of his group for Africa. "On Africa, you will see in the next few weeks, an extremely clear ambition with many hundreds of millions of dollars that will be deployed through another partnership …", a- he said, before specifying that the investment in Mantis (which had just been bought) is just an important step in terms of partnership, but that it will be followed by several other initiatives in Africa.
[19459005"ImadeitaworkhorsebecausethecontinentofAfrica-IsayitandIsayitagain-isthecontinentthathasbyfarthemostopportunitiesforgrowthoverthenext20years" predicts the CEO of AccorHotels
He nevertheless stressed the need to act "in a protean way", knowing that each African country at its own rate of growth and its own realities.
Source link
