Mar­riott signs agree­ments to de­velop ho­tels in four African coun­tries

Financial Nigeria Magazine - - Finance -

Mar­riott In­ter­na­tional, the world's largest ho­tel chain, has an­nounced that it has signed agree­ments to de­velop six new ho­tels in South Africa, Kenya, Egypt and Mau­ri­tius. This came af­ter Mar­riott com­pleted its ac­qui­si­tion of Star­wood Ho­tels & Re­sorts World­wide, in a deal worth about $13 bil­lion last month.

“The past cou­ple of weeks have seen an in­cred­i­ble trans­for­ma­tion for our com­pany, and I am proud to say that we are con­tin­u­ing the mo­men­tum with our ex­pan­sion and devel­op­ment plans across the African con­ti­nent,” said Alex Kyr­i­akidis, Pres­i­dent and Man­ag­ing Di­rec­tor, Mid­dle East and Africa, Mar­riottt In­ter­na­tional.

Mar­riott said the lat­est deals will add over 1,100 rooms to its ex­ist­ing Africa of­fer­ing and will in­clude the de­but of its AC Ho­tels brand on the con­ti­nent. Work­ing with its part­ners, Mar­riott plans devel­op­ment of to­tal 539 rooms and suites in South Africa, 189 in Mau­ri­tius, 344 in Egypt, and 96 in Kenya.

“These new deals are tes­ta­ment to our com­bined devel­op­ment ef­forts go­ing for­ward, as there are sig­nif­i­cant growth syn­er­gies be­tween the brands and our newly com­bined com­pany, with a fo­cus on ex­pend­ing brands across the re­gion, and look­ing for op­por­tu­ni­ties in new mar­kets,” con­cluded Mr. Kyr­i­akidis.

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