Growth in the West African hospitality industry is set to continue in 2020, according to data from a popular hotel investment forum held annually in the region.
Matthew Weihs, md of bench events for Forum de l’Investissement Hôtelier Africain (FIHA), said: “Every time we organise a hotel investment forum, more hotel openings are announced and new players are keen to enter the market. FIHA delegates are literally constructing the future of Africa in front of our eyes.”
Four global hotel groups dominate signings and openings on the continent. Accor, Hilton, Marriott International and Radisson Hotel Group have 6 600 rooms in the pipeline for development in 2020 following deals signed at the end of last year.
Demand has been fuelled by a number of factors – air connectivity, better economic growth, currency and demographics, says Philippe Doizelet, hotels managing partner at Horwath HTL, a worldwide hospitality consulting brand.
It is also helped by West Africa’s efforts to position itself as a business and investment hot spot. According to World Bank data recorded in 2018, countries such as Benin, Burkina Faso, Gambia, Ghana, Guinea, Ivory Coast and Senegal were growing at six percent per annum or better, more than double the world average of three percent.
