SA and Kenya tipped as next hotspots for luxury hotel investment
South Africa and Kenya have been named as the next hotspots for luxury hotel investment in Africa, according to Euromonitor International’s Top 100 Cities Destination Ranking 2017 report.
The report, which was released at the World Travel Market (WTM) 2017 in London, said the investment would be undertaken as a result of the continued flow of top-dollar clients to the region, and was founded on research carried out in 100 countries, based on international arrivals who spend 24 hours or more in a city.
“South Africa and Kenya are expected to register strong growth in luxury hotels as Sub-Saharan Africa continues to be popular with luxury travellers,” read the report.
Kenya has recently had a major influx of investment by leading hotel groups, including Hilton, Carlson Rezidor, Accor Hotels, and Acacia Premier.
According to W-Hospitality Group, 19 hotels are expected to be built in the country shortly – a total of 3 453 new hotel rooms.
Airbnb has identified South Africa as a key market for entering Africa, and the country is expected to see a growth of 32% in Airbnb properties in 2017, read the report.
In addition, Johannesburg was named the only Sub-Saharan African city in the top 100 City Destinations, with tourism considered a pillar of its economic growth strategy. Johannesburg’s Smart Access Programme aims to give free WiFi to everyone in the city by 2020, with WiFi already available at bus stations and theatres.