Hotel groups Hilton and Marriot announce African expansion plans
JOHANNESBURG, June 18 (Reuters) - U.S. hotel chains Hilton (HLT.N), opens new tab and Marriott (MAR.O), opens new tab have announced African expansion drives to tap into the continent's rapid tourism growth.
Rising business and leisure travel on the continent has made it increasingly attractive for multinational companies and Hilton said on Wednesday that it plans to more than triple its African portfolio to more than 160 hotels.
The company plans to enter Angola, Ghana and Benin for the first time while returning to Madagascar and Tanzania, its statement said without providing a specific time horizon for the expansion plans.
Marriott expects to add 50 properties by 2027, it said on Wednesday. Those will include entry into five new countries: Cape Verde, Ivory Coast, the Democratic Republic of Congo, Madagascar and Mauritania.
The group's existing African portfolio encompasses nearly 150 properties and 26,000 rooms across 20 countries and 22 brands.
Airlines have also increased their African capacity.
Emirates now offers 161 weekly flights across Africa, recently adding daily services to Entebbe and Addis Ababa. United Airlines (UAL.O), opens new tab launched a direct Washington-Dakar route in May and Delta (DAL.N), opens new tab will begin a seasonal daily flight to Accra in December.
International arrivals to the continent rose 9% year on year in the first quarter of 2025, the United Nations World Tourism Organization says, 16% above the same period of pre-pandemic 2019.
That momentum is translating into economic impact. Tourism accounts for between 3% and 7% of gross domestic product in countries such as Kenya, Morocco and South Africa, and up to 15% in tourism-heavy economies such as Namibia, World Bank and national statistics show.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
an hour ago
- Reuters
Angola, Zambia push Lobito Corridor rail project as financing talks advance
LUANDA, June 24 (Reuters) - Zambia hopes to start work on the Lobito Corridor railway connecting its copper belt to Angola's Atlantic coast by the third quarter of 2026, Transport Minister Frank Tayali said, as the project moves forward amid financing negotiations. The corridor, which will link Zambia's Chingola region to Angola's Benguela railway line at Luacano, is expected to span over 530 km and serve as a key export route for copper and agricultural goods. Speaking to Reuters on the sidelines of the U.S.-Africa summit being held in Luanda, Tayali expressed optimism about the multinational project, noting interest from the United States, the European Union, and regional stakeholders. "We have a developer in the Africa Finance Corporation working through the financial issues, and things are looking very good," Tayali told Reuters. "This is something monumental, and we have a lot of confidence in its potential to address global food insecurity and unlock Africa's arid land for agriculture." Angola's Minister of State for Economic Coordination José Massano said the government remains committed to facilitating investments like the Lobito Corridor through private sector negotiations but ruled out direct government funding for the project. Talks have focused on concession contract clauses, including potential guarantees sought by financiers. "We may have one or two clauses adjusted to facilitate the relationship between operators and financiers," Massano said. "These processes take time, but the firm commitment is there to make it happen." Massano also confirmed that Angola is advancing on a planned $500 million World Bank funding, with requirements expected to be fulfilled by the end of the year. On the fiscal front, Massano addressed Angola's budgetary outlook amid volatile oil prices. Speaking at the summit on Monday, he noted that oil prices above $70 per barrel — aligned with Angola's 2025 budget forecast — had offered temporary relief for implementing economic and social programmes. However, oil prices fell sharply on Tuesday casting uncertainty over Angola's fiscal projections. Oil prices extended losses to hit a two-week low on Tuesday after Israel agreed to U.S. President Donald Trump's proposal for a ceasefire with Iran, alleviating worries over supply disruptions in the Middle East. Brent crude futures were down $2.48, or 3.5%, at $69 a barrel by 0927 GMT. U.S. West Texas Intermediate crude fell $2.37, also 3.5%, to $66.14. Asked whether the country had ruled out an IMF programme, Massano said Angola remains open to dialogue with multilateral organizations, including the International Monetary Fund, to consolidate public finances if necessary.
Reuters
5 hours ago
- Reuters
South African rand gains from risk rally before leading indicator and jobs data
JOHANNESBURG, June 24 (Reuters) - The South African rand firmed against a weaker dollar in early trade on Tuesday, after U.S. President Donald Trump's announcement of an Israel-Iran ceasefire and before the release of domestic leading indicator and formal sector employment data. The risk-sensitive local currency has gained some ground after falling to a one-month low on Monday as uncertainty over the Middle East conflict hung over markets. But at 0632 GMT the rand traded at 17.7575 against the dollar , roughly up 0.7% on Monday's close and paring some of its losses. Trump announced a ceasefire between Israel and Iran on Monday evening, news that sent investors cheering and sparked a risk rally across emerging market equities and currencies. Domestic investors will focus on April's business cycle leading indicator (ZALEAD=ECI), opens new tab data at 0700 GMT, which collects data on vehicle sales, business confidence, money supply and other factors in Africa's most industrialised economy. The country's statistics agency will release first-quarter formal employment figures shortly after, which exclude the agricultural sector. In fixed income, government bonds also firmed in early deals. The yield for debt maturing in 2035 fell 8.5 basis points to 9.975%.
Reuters
11 hours ago
- Reuters
AVZ Minerals to resume proceedings against DRC over disputed lithium deposit
June 24 (Reuters) - Australia's AVZ Minerals said on Tuesday it will resume proceedings against the Democratic Republic of Congo (DRC) over mining rights to the Manono lithium deposit after the parties were unable to reach a settlement on a legal dispute over the deposit. The unresolved issue poses a potential hurdle for California-based metals exploration firm KoBold Metals' plans to acquire AVZ Minerals' stake in one of the world's largest hard rock lithium deposits. AVZ initially held the permit to develop the Manono project, but in 2023 the DRC's mines ministry revoked this permit on the basis that the project had not advanced quickly enough. The rights were later granted to a unit of Zijin Mining ( opens new tab, prompting AVZ to seek relief through both the International Court of Arbitration of the International Chamber of Commerce, and the International Centre for Settlement of Investment Disputes (ICSID). The U.S. government has been encouraging the parties to settle the dispute, which led AVZ to temporarily suspend, opens new tab the ICSID arbitration proceedings in late May. AVZ, whose shares were suspended in May 2022 and delisted two years later due to the dispute, said DRC did not engage with AVZ during the suspension period and the suspension has lapsed. The ICSID proceeding will now resume, the company said. KoBold Metals did not immediately respond to a Reuters request for comments.
