Home » Africa: Egypt, Nigeria, and Morocco Top the List of African Nations with the Highest Hotel Investments in 2023, W-Hospitality Group Reports

Africa: Egypt, Nigeria, and Morocco Top the List of African Nations with the Highest Hotel Investments in 2023, W-Hospitality Group Reports

by Atqnews23
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hospitality investment

In a recent report by the W-Hospitality Group, Business Insider Africa unveils the top 10 African countries making significant strides in hospitality investment.

According to africa.businessinsider.com, The findings reveal a promising future for the continent’s hotel industry, with a total of 482 hotels and an impressive 84,427 rooms currently in the pipeline for Africa’s expanding hotel network.

This total, according to a report by the W-Hospitality Group report titled Hotel Chain Development Pipeline Africa, “has been analyzed initially according to two main regions, i.e. North Africa and sub-Saharan Africa”

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The report which covers the 54 countries in Africa, comprising North Africa, sub-Saharan Africa, and the Indian Ocean islands, provides continuous, dependable, and comparable information on the pipeline activities of hotel chains existing in Africa and those looking to establish themselves on the continent.

According to the report, “the hotel chains have deals signed in 42 countries in Africa. West Africa leads with 13 countries (out of a total of 18), followed by the Southern & Indian Ocean sub-region where there are 11 countries with pipeline development activity. Central Africa has seen increased activity, now with deals in five of the eight countries in the sub-region, Gabon and Chad joining the group this year.”

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Below are the 10 African countries expected to have the highest investments in the hospitality sector in 2023, based on their pipeline status. In this context, pipeline status refers to the number of projects in the hospitality industry, still in the works.

The figures below highlight the status of the deals by region, regardless of whether construction has begun or not. Said figures have primarily remained unchanged for a year now, with a greater proportion under construction in sub-Saharan Africa than in North Africa, because of the large number of recent signings in the latter, particularly in Morocco and Egypt.

Methodology

The report was put together using the data on signed deals in early 2023 from 45 regional (African) and international hotel chains. In the report, Africa-based chains need to operate in (or are planning on expanding into) more than one country on the continent, and international hotel chains in more than one country globally.

For each of the 482 pipeline deals, up to 18 data points were collected – that’s a total of almost 9,000 “bits.”

Rank               Country                Hotels                      Total Pipeline
1.                     Egypt                     103                            24,944
2.                    Nigeria                    42                               6,772
3.                    Morocco                  46                               6,369
4.                    Ethiopia                   33                              6,129
5.                    Kenya                       25                              3,729
6.                    Cape Verde             14                               3,660
7.                    Algeria                     15                                2,862
8.                    South Africa           21                                2,768
9.                    Senegal                    15                                2,650
10.                  Côte d’Ivoire           16                                2,445

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