Source: The Reporter Ethiopia
Photo Credit: www.Ezega.com
The annual report, which features hotel projects across major destinations globally, has named Ethiopia as the third most evolving market of the hospitality industry with a growing number of hotel projects in the pipeline this year.
Headquartered in Nigeria, W Hospitality Group, a specialized consultancy firm in the hospitality sector has published the 10th series of the annual report dubbed: Hotel Chain Development Pipelines in Africa, 2018. In its findings, Ethiopia has been ranked the top third country next to Egypt and Nigeria from the list of top 10 countries of the continent. Ethiopia has been placed third with 31 hotels ready to enter the business in the foreseeable future.
The report detailed that Ethiopia’s hotel pipeline projects are about to introduce additional 5,717 rooms in the years to come while Egypt ranked atop with 43 pipeline projects with 13,636 rooms and Nigeria second with 57 hotels and 9,603 rooms. In fact, statistically, Ethiopia should have been put in fourth position giving its way to Morocco whose number of hotels in the pipeline reaching 33. However, Ethiopia edges Morocco with the number of rooms since the latter has a size of 5,456, less by 261 rooms Ethiopia has embarked on.
Out of the 5,717 rooms, 60 percent is found to be under construction and the rest wait to be part of the actual construction work. Between 2017 and 2018, Ethiopia has witnessed a 50 percent increase in hotel pipeline projects, while some 25 hotel development deals have been signed until March 2018 across the continent.
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