Marriott International Expects to Add 40 New Properties Across Africa by 2023
Company announces four new deals including entry into Cape Verde; Development pipeline expected to drive owner investment of over $2 billion and generate 12,000 new jobs
ADDIS ABABA - From the Africa Hotel Investment Forum in Addis, Marriott International (http://www.Marriott.com) reinforced its commitment to Africa by announcing it expects to add 40 properties and over 8,000 rooms across the continent by the end of 2023. The company also announced signed agreements to open its first property in Cape Verde and further expand its presence in Ethiopia, Kenya and Nigeria. Marriott's development pipeline through 2023 is estimated to drive investment of over $2 billion from property owners and is expected to generate over 12,000 new jobs in Africa.
Marriott International's current portfolio in Africa encompasses close to 140 properties with more than 24,000 rooms across 14 brands and 20 countries and territories.
"Africa is a land of opportunity with untapped potential and remains core to our strategy," said Alex Kyriakidis, President and Managing Director, Middle East & Africa, Marriott International. "The economic growth the region is witnessing, along with the substantial emphasis countries across the continent are placing on the travel and tourism sector, present us with immense opportunities for growth."
"With compelling, well-established lifestyle brands and Marriott Bonvoy, our industry-leading travel program, we continue to offer different attributes that resonate with the region's fast-growing middle class and cater to its evolving market place," Kyriakidis added.
Marriott's expected growth through 2023 is driven by a strong demand and steady growth for its premium and select-service brands- led by Marriott Hotels with eight anticipated openings and six slated openings under Protea Hotels by Marriott. The company is expected to introduce the Courtyard by Marriott, Residence Inn by Marriott and Element Hotels brands.
Marriott also continues to see growth opportunities for its luxury brands and expects to double its luxury portfolio in Africa by year-end 2023, with more than ten new openings across The Ritz-Carlton, St. Regis, Luxury Collection and JW Marriott brands. The company also expects to launch W Hotels in Africa with the opening of W Tangier in Morocco by 2023.
Key markets fuelling Marriott's growth in Africa include Morocco, South Africa, Algeria and Egypt.
"Marriott's established presence and local expertise in Africa, along with our diverse brands and the collective strength of our global platform, put us in a great position to further enhance our footprint in the region where owners are looking to develop high-quality lodging with brands that can differentiate and elevate their product," commented Jerome Briet, Chief Development Officer, Middle East & Africa, Marriott International.
The company announced three deal signings, further reinforcing its commitment to Africa and the significant growth opportunity the region continues to provide.
Marriott's recent deal signings in Africa are:
Four Points by Sheraton São Vincente, Laginha Beach (Cape Verde)
The company anticipates making its debut in Cape Verde with the Four Points by Sheraton São Vincente, Laginha Beach. The property is scheduled to open in 2022 with 128 stylishly appointed guestrooms, three dining outlets, meeting rooms and leisure facilities, including a fitness centre and outdoor pool. Four Points by Sheraton São Vincente Laginha Beach will be situated on the second most populated island, São Vicente, in the town of Mindelo, and will also feature a bridge to provide guests direct access to a private, exclusive area of the popular Laginha Beach. The hotel is a franchised property owned by Maseyka Holdings Investments Sociedade Unipessoal LDA and will be managed by Access Hospitality Development and Consulting.
Four Points by Sheraton Mekelle (Ethiopia)
Marriott signed an agreement for its first Four Points by Sheraton in Ethiopia slated to open by 2022. Owned by A Z PLC, Four Points by Sheraton in Mekelle will offer 241 stylishly appointed rooms, an all-day dining restaurant, a bar and lounge, an executive lounge, meeting facilities, a fitness center and a spa. A growing industrial and manufacturing hub, Mekele also lies along Ethiopia's historic northern tourism circuit, which includes a number of UNESCO World Heritage Sites located in Lalibela, the Simian Mountains National Park, Axum, Gondar and the Blue Nile Falls. The hotel is located along the airport road in a prime location overlooking the city.
Four Points by Sheraton São Vincente, Laginha Beach and Four Points by Sheraton Mekelle will both feature Four Points by Sheraton's approachable design and excellent service and reflect the brand's promise to provide what matters most to today's independent travellers.
Protea Hotel by Marriott Kisumu (Kenya)
The company also expects to expand its footprint in Kenya with the signing of Protea Hotel by Marriott Kisumu in Kenya. The property is expected to be the first internationally branded hotel in Kisumu, Kenya's third largest city and will be located on the shores of Lake Victoria, the continent's largest freshwater lake. Scheduled to open in 2022, the hotel will feature 125 rooms with views of the lake, three food and beverage outlets, more than 500 square meters of event and meeting space and a rooftop infinity pool, along with other leisure facilities. Protea Hotel by Marriott Kisumu is a franchised property owned by Bluewater Hotels and will be managed by Aleph Hospitality.
Residence Inn by Marriott Lagos Victoria Island (Nigeria)
Marriott plans to introduce its extended-stay brand, Residence Inn by Marriott, in Nigeria with the signing of Residence Inn Lagos Victoria Island. Owned by ENI Hotels Limited, the property will be situated in Lagos Lagoon on Victoria Island - the financial and commercial centre of Lagos. Residence Inn by Marriott Victoria Island will be designed for those taking longer stays with 130 spacious one- and two-bedroom suites featuring separate living, working and sleeping areas and fully-functional kitchens. The property will also offer a 24/7 Grab'n Go market and Fitness Centre. Residence Inn by Marriott Lagos Victoria Island is anticipated to open in 2023.
This news release contains "forward-looking statements" within the meaning of federal securities laws, including the number of lodging properties the company may add in the future and similar statements concerning possible future events or expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including changes in market conditions; changes in global and regional economies; supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance property growth and refurbishment; and other risk factors that the company identifies in its most recent annual report on Form 10-K or quarterly report on Form 10-Q; any of which could cause actual results to differ materially from the expectations we express or imply here. We make these statements as of the date of this press release, and we assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 7,500 properties under 30 leading brands spanning 132 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy™, its highly-awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.