IHG, Accor, Radisson Hotel Group, Deutsche Hospitality announce development in the Middle-East Africa area. Various subjects and various goals but all in the area.
Though the market trends aren't in green in any country of the Arabian Peninsula, it is a source of interest for the hotel groups. Bahrain, Saudi Arabia, Kuwait, Oman, Qatar and UAE posted negativ RevPAR evolutions on the last 12 months and only Bahrain and Qatar saw their OR maintained in a positive progression. North Africa and Levant post better performances according to Olakala_destination database.
IHG and Seera Group signed an agreement
The company based in Kingdom of Saudi Arabia will have access to IHG’s global portfolio. Seera Group considers itself to be the largest travel and tourism company in the Middle East with a prominent local, regional and international presence.
Pascal Gauvin, Managing Director, IMEA, IHG, annouced: “We are thrilled to announce our partnership with Seera Group. IHG has ambitious growth aspirations for the region, and the exciting agreement will allow us to connect with a wider audience of leisure travellers. Leisure travel is a growing category amongst the region’s domestic and outbound travellers, including the Kingdom of Saudi Arabia, with a number of projects initiated under the KSA National Vision 2030."
Kasada Capital Management closed a fundraising of $500 million
In July 2018, Accor invested 150 million dollars in Kasada Capital Management a fund dedicated to supply development in Sub-Saharan Africa.
Olivier Granet said: "The conditions are currently in place to invest in the hotel sector in Africa in an innovative way. In the rest of the world, platforms similar to Kasada are already established and profitable, but they do not yet exist with the critical size and integrated structure required in sub-Saharan Africa. The time has come to implement bold strategies. With the support of Accor and Katara, we have a unique competitive advantage through a strong brand portfolio and access to local and international financial institutions."
Antananarivo will welcome a Radisson Blu, a Radisson and a Radisson Serviced Apartments.
The 4th Jaz in the City will open in the United Arab Emirates
After Amsterdam (2015), Stuttgart (2018) and Vienna (2020), Deutsche Hospitality will open 253 rooms in Dubai Creek in 2022 under its lifestyle brand. The project is being realized with the Investment Corporation of Dubai (ICD).
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