Mohammed Al-Amoudi, Ethiopia’s richest man, is ramping up investments in the country’s hospitality sector as his net worth surpasses $9 billion, signaling renewed confidence in Ethiopia’s tourism and services industry.
Through his conglomerate, MIDROC Investment Group, Al-Amoudi has entered into a strategic partnership with First Group Hospitality to develop 10 hotels across major cities in Ethiopia.
The ambitious project, considered one of the largest coordinated tourism investments in the country, will deliver approximately 1,140 rooms. It will feature a mix of independent properties and internationally branded hotels under Marriott International, with phased openings scheduled between 2026 and 2031.
The expansion builds on MIDROC’s existing hospitality footprint, which includes landmark assets such as the Sheraton Addis, and aligns with broader national efforts to position Ethiopia as a leading hub for business and leisure travel in East Africa.
Industry analysts say the move reflects growing investor confidence in Ethiopia’s services sector, supported by ongoing policy reforms and increased access to international financing. The development is also expected to boost job creation, enhance tourism infrastructure, and attract more global visitors to the country.
