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09th October, 2017.

Nigerian Hotels are the most valuable on the African mainland - AHR

Nigerian hotels are the most valuable hotels on the African mainland, according to the African Hotel Report 2017 that will be released at the Africa Hotel Investment Forum in Kigali tomorrow.

Despite the economic problems experienced by the market in recent years that have seen values fall by 16.4% in the last two years, average values are the third highest in all of Africa, behind only the Seychelles and Mauritius, according to author of the report, David Harper of Hotels Partners Africa.

Nigeria is the most significant hotel market in west Africa, with almost 6,100 branded bedrooms across 41 hotels, with 21 brands (and 14 hotel companies) represented in 9 cities. With a population of almost 192m, growing at an estimated 2.6% per annum and with the largest economy on the continent, it is unsurprising that more hotel projects (61) and more branded bedrooms (10,313) are proposed here than in any other country on the continent.

"This report shows that the hotel industry in Africa is still a very good investment, despite the cyclical nature of the property market. However, good advice is vital to help ensure you make the most of this very promising investment opportunity and avoid some of the potential pitfalls that can ensnare the less experienced hotel investor".

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Travelscope Magazine is publication with primary focus of serving the travel, tourism, aviation and hospitality sector with the latest global trends in the industry.

Travelscope Magazine is a published by Bisoprints Communication as a rallying point for the advancement of the industry. It has grown to become a clear market leader focusing on constant innovation in the emerging travel, tourism and hospitality sector in Nigeria.


 
 

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