October 1, 2018 / 10:07 AM / 22 days ago

Marriott International to increase its Africa hotels by 50 percent by 2023

NAIROBI (Reuters) - Marriott International (MAR.O) plans to increase its hotels in Africa by 50 percent in the next five years, opening new facilities in markets where it already operates and venturing into new ones like Mozambique, the company said on Monday.

FILE PHOTO: Signage for the New York Marriott Marquis is seen in Manhattan, New York, November 16, 2015. Marriott International Inc will buy Starwood Hotels & Resorts Worldwide Inc for $12.2 billion to create the world's largest hotel chain with top brands including Sheraton, Ritz Carlton and the Autograph Collection. REUTERS/Andrew Kelly

Global hotel chains have been increasing their investments in Africa in recent years to take advantage of fast expanding economies and improving transport links.

Marriott said it had signed deals with partners which will see it increase its hotels in Ghana, Kenya, Morocco, South Africa, and mark its entry into Mozambique.

“The signings put Marriott International on track to increase its portfolio by 50 percent with over 200 hotels and 38,000 rooms by 2023 estimated to generate 12,000 new job opportunities,” the company said in a statement.

Other chains which have recently announced African expansion plans include AccorHotels (ACCP.PA), which has more than 100 hotels in Africa and has earmarked $1 billion for expansion on the continent. [nL8N1WB5G1]

The Bethesda, Maryland-based company has a portfolio of 6,700 properties in 130 countries, including 21 countries in Africa.

Reporting by Duncan Miriri; editing by Jason Neely

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