Welcome to the inaugural African Hotel Valuation Index (HVI), an index studying the relative values of hotels in 14 markets throughout Africa. We consider 2014 to be the ideal time to launch the study as data are now more readily available, allowing a more reasoned analysis of the recent trajectory and the growth in performance and values. As the number of investors considering African markets increases and interest in African real estate generally grows, the launch of this publication is ideally timed to be of most assistance to existing and potential hotel owners, investors, developers, banks and operators.