Nigerian hotels are the most valuable hotels on the African mainland, according to the African Hotel Report 2017 that will be released at the Africa Hotel Investment Forum in Kigali tomorrow.
Despite the economic problems experienced by the market in recent years that have seen values fall by 16.4% in the last two years, average values are the third highest in all of Africa, behind only the Seychelles and Mauritius, according to David Harper of Hotels Partners Africa, the report’s author.
Nigeria is the most significant hotel market in West Africa, with almost 6,100 branded bedrooms across 41 hotels, with 21 brands (and 14 hotel companies) represented in 9 cities. With a population of almost 192m, growing at an estimated 2.6% per annum and with the largest economy on the continent, it is unsurprising that more hotel projects (61) and more branded bedrooms (10,313) are proposed here than in any other country on the continent.
