Sunday, April 14, 2024
BusinessHyatt to open doors in Ethiopia

Hyatt to open doors in Ethiopia

Hyatt Hotel and Resorts has announced its plan to open six hotels within Africa within three years. Among the six announced by the luxury collection on Tuesday were Algeria, Cameroon, Ethiopia, and Senegal. The company is also set to add a second hub to already established hotels in Tanzania and Morocco.

“Hyatt Regency Addis Ababa, Ethiopia will feature 180 rooms and will be situated ideally for business travelers in the central Kirkos district, within the heart of Africa’s fourth largest city,” the hotel said in a statement.

The company was said to be attracted to an ever increasing government investment in infrastructures, with a population with spending power and a stable environment to do business within the continent. This comes as Ethiopia is continuing to attract international brands as foreign investors despite conflicts in some areas of the country.

The company indicated its plans to expand to other nations, including Rwanda, Kenya and Ghana. The company announced its latest investment will bring in job opportunities to more than 2,000 people.

“The development opportunities for Hyatt Arica are significant and we see enormous potential in the region,” Peter Penev, the vice president of Acquisitions and Development for Hyatt, said. “This expansion reinforces our commitment to developing our pipeline in Africa.”

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In a related news, Hilton also launched its Africa Growth Initiative Plan and announced that it will spend USD 50 billion and open 100 hotels within Africa in five years, including rebranding already existing hotels and bringing them to per Hilton luxury standard.

“The model of converting existing hotels into Hilton branded properties has proven highly successfully in a variety of markets and we expect to see great opportunities to covert hotels to Hilton brands through this initiatives, Hilton’s senior vice president for Development for Africa, Patrick Fitzibbon, said in a statement.

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Video from Enat Bank Youtube Channel.

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