- 9 hotels, 1300 rooms scheduled to open by 2015; 30 hotels, 5500 rooms expected to open by 2020
- USD 1.5.bn capital investment by Marriott’s real estate partners
Bethesda, Md., Oct. 2, 2014 Dubai, UAE - Marriott International, Africa’s largest hotel company following its strategic acquisition of Protea Hotel Group, continues to gather momentum with a packed schedule of 30 property openings across the continent by 2020, 9 of which are slated to open by end of 2015.
“The potential of the African market is awe inspiring and only really matched by the extraordinary people and places we encounter every day as our brands puts down roots across the continent,” Alex Kyriakidis, President and Managing Director, Marriott International Middle East and Africa said. “Over the next few years we plan to expand our presence even further from 10 countries to 17 with a capital investment by Marriott’s real estate partners of $1.5 billion across the continent. With it, we will create jobs and support local communities because our success is only ever possible through strong bonds of friendship, trust and cooperation in the markets we inhabit.”
With a strong eye on the extended stay segment a new Residence Inn by Marriott Kampala Kololo has just been signed, bringing the total property count under the Protea Hotels and Residence Inn brands in Uganda alone to three. A raft of further openings are scheduled to follow in 2015 across the continent with openings in South Africa, Nigeria and Uganda, as well as Marriott International’s first properties in Ethiopia, Ghana and Rwanda.
Marriott Executive Apartments Addis Ababa, owned by Sunshine Business plc, is slated to be the first property under the extended stay brand to open in Africa. With 104 units, located at the financial district, close to the UN Headquarters and Addis Ababa Stadium, Marriott Executive Apartments is designed for the international traveler and executive expat seeking luxurious apartment living with hotel services.
By 2020, in Africa, Marriott International is set to go from 120 properties, 14,000 rooms across 10 markets, to 150 properties with 19,000 rooms across 17 markets. As a result, the company which currently employs 21,000 associates across Africa should see its work-force increase by 10,000. “The fundamental demand generators that drive our industry are alive and well on this continent,” continued Kyriakidis. “Marriott International’s investment into this region represents the economic realisation for the need for hotels – countries need to invest in infrastructure, accommodation and airports to create jobs to grow the economy. In tangible terms, these planned hotels will create sustainable local jobs.
“We have achieved a great deal in a short period of time but I firmly believe this is just the start of the Marriott International story in Africa.”
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,000 properties, and more than 690,000 rooms in 78 countries and territories. Marriott International reported revenues of nearly $13 billion in fiscal year 2013. The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 45 million members. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.
Note on forward looking statements: The statements about future hotel openings, capital investments by owners, and work force additions are “forward looking statements" within the meaning of federal securities laws, not historical facts, and are subject to a number of risks and uncertainties, including supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance hotel growth; and other risk factors identified in Marriott International, Inc.'s most recent quarterly report on Form 10-Q/A; any of which could cause actual results to differ materially from those expressed in or implied by our statements. These statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Connect with Deema.Kingsmill-Moore@marriott.com