NAIROBI, Oct 1 (Reuters) - Marriott International MAR.O plans to increase its hotels in Africa by 50 percent in the next five years, opening new facilities in markets where it already operates and venturing into new ones like Mozambique, the company said on Monday.
Global hotel chains have been increasing their investments in Africa in recent years to take advantage of fast expanding economies and improving transport links.
Marriott said it had signed deals with partners which will see it increase its hotels in Ghana, Kenya, Morocco, South Africa, and mark its entry into Mozambique.
"The 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 job opportunities," the company said in a statement.
Other chains which have recently announced African expansion plans include AccorHotels ACCP.PA , which has more than 100 hotels in Africa and has earmarked $1 billion for expansion on the continent. Bethesda, Maryland-based company has a portfolio of 6,700 properties in 130 countries, including 21 countries in Africa.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.