Marriott International to invest $8.5m in African markets as it strengthens presence in Nigeria, others

Marriott International Tuesday announced a further $8.5 million expansion plan in Africa with seven new hotel signings, just as it strengthens presence in Nigeria, Ethiopia and Ghana.

The company specifically said it has signed on Renaissance Landmark Lagos Hotel and Marriott Executive Apartments, Victoria Island, Lagos, Nigeria into its global chain of hotels.

The expansion plans announced at the Africa Hotel Investment Forum in Kigali, Rwanda, indicates target signing of over 200 hotels with 37,000 rooms by 2020 with an estimated $8.5 million investment that would generate about 50,000 direct and indirect jobs across Africa.

“Africa today makes a very compelling story. We are seeing unprecedented traction for our compelling brands, driving our momentum of growth,” said Alex Kyriakidis, President and Managing Director, Middle East and Africa, Marriott International.

“We have always believed in the potential of Africa and the opportunities the continent has to offer. With economic growth, a rising middle class and rapid urbanization, the demand for travel and high quality lodging is growing, providing us with a significant opportunity to enhance our footprint and play our part in supporting many emerging markets across the continent,” he added.

On the two signings in Nigeria, Mariott said it will manage the 216-room Renaissance Landmark Lagos Hotel, as well as the 44-room Marriott Executive Apartments.

Slated to open in 2020, the hotels will be located within the Landmark Village precinct, a premier mixed-use, business, leisure and lifestyle development along the Atlantic Ocean waterfront in Victoria Island, the central business district of Lagos.

The 25-floor hotel will offer a wide range of amenities, including local and international restaurants, spa facilities, a fitness center, and an infinity pool with access to a 100-meter-long boardwalk overlooking a vibrant beach club offering exciting watersports.

Speaking on the increased interest in mixed-use development projects, Kyriakidis said, “As cities evolve and grow into flourishing urban centers, we will continue to see a lot of activity in this space. An international hotel brand can bring cachet to a project that positions it significantly above its peers and differentiates it from its competitors.

“Our compelling brands spanning every segment from Luxury to Premium to Select to Extended Stay, lend themselves to grow in all markets, city and resort as well as standalone and mixed-use formats, providing developers the flexibility and choice to identify the right brand for the right location.”

Marriott International hotels are currently in 20 African countries: Algeria, Djibouti, Egypt, Ethiopia, Gabon, Ghana, Guinea, Kenya, Malawi, Mauritius, Morocco, Namibia, Nigeria, Rwanda, Seychelles, South Africa, Tanzania, Tunisia, Uganda and Zambia.

The company is expected to foray into new markets including Benin, Botswana, Madagascar, Mali, Mauritania, and Senegal and has signed 1300 new rooms marking the debut of Marriott International into Ivory Coast while strengthening its presence in existing markets including Ethiopia, Ghana and Nigeria.

Today, Marriott International has a strong footprint across the continent operating 140 hotels with close to 24,000 rooms across 12 brands