Hotel development and investment potential is beginning to be realized in many key markets in West Africa as issues of stability, financial transparency and demand begin to be addressed.
Hotel development and investment potential is beginning to be realized in many key markets in West Africa as issues of stability, financial transparency and demand begin to be addressed. This was the key finding at the African Hotel Investment Conference being held today in Nairobi, Kenya on a panel being hosted by Philippe Doizelet, Managing Director of Horwath HTL France, part of Horwath HTL the world’s largest hospitality consulting network.
The panel, highlighted several markets as having good potential for investment, namely Lagos, Abuja, Accra but also Abidjan and Dakar was looking outside of the more traditional markets and throwing a spotlight on some of the regional cities that were perhaps less well known, but showed potential for hotel development (Conakry, Cotonou, Libreville).
Joining Philippe Doizelet on the panel was Paul Ansah, Vice President Development – Africa, Marriott International, Inc. Serge Hattier, Head of Development for Africa, ACCOR and Souleymane Ouattara, Financial Analyst, Africa Capital.
Philippe Doizelet said “We have been working in the region for many years, so have been able to see first hand the strides that successive governments in these countries have made. The key drivers have to be in place, which in turn will stimulate the push towards more organized tourism master plans which give international brands and investors comfort that these areas are ready for development. West Africa has always had tremendous opportunity and genuinely unique tourism offering, but lacked the will to tackle issues like infrastructure and transparent governance. This is clearly changing and as the other poster countries for investment growth such as Europe and North Africa continues to slow down; it is natural that investors looking to maximize returns will start looking seriously at opportunities here. ”
About Horwath HTL
Horwath HTL (Hotels Tourism and Leisure) is one of the world’s pre-eminent consulting specialists in the Hotel, tourism and leisure industries, providing unequalled experience and expertise for client projects around the world through a combination of detailed local knowledge and international understanding. Horwath HTL is currently the world’s largest consulting organisation specialised in hospitality, with 50 offices in 39 countries.
Horwath HTL is a member of Crowe Horwath International, a professional association of accounting and management consulting firms founded in New York in 1915. Crowe Horwath International is currently ranked among the top ten international professional service groups with offices in close to 586 cities in 108 countries.
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