From Reuters.

Paris-based AccorHotels sealed a deal with Angolan insurance and investment company AAA Activos to open 50 hotels in Angola by 2017 as part of its expansion in Africa.

The world’s fourth-largest hotelier has been expanding in emerging markets such as Africa to counter weaker growth in Europe, which accounts for 70 percent of its revenue.

A statement from Chairman and CEO Sebastien Bazin said the deal reached during French President Francois Hollande’s visit to Angola on Friday “testifies to AccorHotels’ ambition in Africa, where tourism is evolving rapidly.”

Accor plans to open 50 hotels in Angola, representing more than 6,200 rooms ranging from luxury to economy, over the next two years. Its Ibis Styles budget brand will operate 27 properties, with 22 to be run by the mid-market Mercure brand and one under the luxury Sofitel brand.

The group is expanding its hotel offering this year to Cameroon, the Democratic Republic of Congo and the Ivory Coast. It also plans to open more than 30 new hotels in Sub-Saharan Africa before 2020.

Read more at Reuters.