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Sub-Saharan Africa’s Hotel Industry Is Booming

Sub-Saharan Africa’s Hotel Industry Is Booming

From CNBC Africa

Recent hotel developments in Africa indicate a divergence in activity as international firms move into the continent.

According to Lagos-based consultancy W Hospitality Group’s 2013 survey, international and retail chains are signing more deals in sub-Saharan Africa than in North Africa.

“We’ve been doing the survey for six years now and in previous years it’s always been the five countries of North Africa where the most development deals have been signed, but this year the tables have turned from being more North Africa,” Trevor Ward, managing director of W Hospitality Group, told CNBC Africa.

“We’re now seeing 140 hotels where deals have been signed with international chains and sub-Saharan Africa. About half that number signed in the five countries of North Africa, so the big story is that sub-Saharan Africa is coming into its own. We think it’s the hotel growth story of the 21st century.”

Written by Wilhelmina Maboja/Read more at CNBC Africa