InterContinental Hotels Group (IHG) has signed a Master Development Agreement with Valor Hospitality Partners Africa to roll out multiple franchise hotels over the next 10 years, across IHG's portfolio of brands in midscale, upscale and luxury segments.
The agreement will see IHG expand its presence in Sub-Saharan Africa, including key countries such as South Africa, Botswana, Mozambique, Mauritius, Ethiopia, Zambia and Kenya. The development adds to IHG's growing pipeline in the Middle East and Africa and cements its position as one of the leading operators in the region.
Valor Hospitality Partners Africa is a subsidiary of Valor Hospitality Partners Global that manages and asset manages projects across America, the UK, Middle East, South Africa and South East Asia. IHG currently operate hotels with Valor Hospitality Partners in America and the UK.
Speaking on the announcement, Pascal Gauvin, Managing Director, India, Middle East and Africa, IHG said: "Valor has been our long-term partner in America and the UK for many years and we are pleased to be building our network with an experienced existing operating partner in new markets. This signing is in line with our growth ambition in the region and will add approximately 1000 rooms to our portfolio in the African continent, primarily in the midscale segment and select hotels in upscale and luxury segments. This will allow us to cater to the increasing number of diverse domestic and international travellers looking for quality branded accommodation in Africa."
He added: We currently have 26 operating hotels across eight countries in Africa, and we are looking at expanding our presence further by close to 40%, in 3-5 years.
Graham Wood, Managing Director of Valor Hospitality Partners Africa added: "We are thrilled to further strengthen our partnership with a global hospitality leader such as IHG® and expand our portfolio in Africa with their well-established brands that are loved by travellers across the world. We have consistently benefitted from IHG's global distribution system in the Americas and the UK, best in class revenue management tools, and their commitment to deliver commercial success in partnership with their owners. With the new brands IHG have added in recent months, this agreement presents us with a unique opportunity to provide a range of high-quality branded accommodation options to suit the evolving needs of guests travelling to Africa."
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