There is exciting growth in Africa, but what does the industry need to remember in order to build a market that works? Deals need to be solid, finances need to be secure, and the existing culture and infrastructure needs to be considered.
There is little point in rushing through a development that cannot be sustained for the future. It is also vital that there is quality in the product on offer. In this briefing four experts give their views on the key elements for successful developments in Africa:
Peter Greenberg, Travel Editor, CBS News with three pieces of advice for the hospitality industry
Olaf Schmidt, Global Sector Head – Tourism, Retail & Property, IFC – World Bank Group shares three messages from the IFC
Philippe Doizelet, Managing Partner, Horwath HTL – France on what the African hospitality industry could improve on
Rohan Patel, Director, Sankara Hotel Group Kenya Ltd on why hotel development projects must be sustainable
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Video clips produced by ybc.hpgcms.wpengine.com for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.
Africa has been an inherently risky market for the hospitality industry. The diversity of countries means that understanding one particular area in which to invest can be time-consuming and difficult. However, countries like Kenya and the Ivory Coast are making it much easier to open the door for international investors.
There is still a long way to go, but with compelling figures of ‘a billion middle-class citizens by 2050’ it is no wonder hotel companies are looking to secure assets for the long-term now. Videos in this briefing include clips from:
- Chief Edem Duke, Minister for Tourism for Nigeria on investment becoming easier
- Alex Kyriakidis, President – Middle East & Africa for Marriott International on one billion middle-class citizens
- Roger Kacou, Minister for Tourism for Cote d’Ivoire on balancing the risk and reward of investment
- Bani Haddad, Regional VP – Middle East & Africa, Wyndham Hotel Group, on the new rules for the African market
If you’ve been sent to this page but you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.
Video clips produced by ybc.hpgcms.wpengine.com for the Hospitality Channel, including interviews from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.