Major hotel brands strike deals with local investors
Addis Ababa, Ethiopia – The hospitality industry here is shifting gears with some six major international hotel brand operators sealing deals with local investors.
The pack of big players were present in the capital to attend the African Hotel Investment Forum (AHIF) which was held at the Sheraton Addis from Monday through Wednesday.
On Tuesday, the UK-based Wyndham Hotel Group, which operates seven brands and 7,500 hotels across the globe, inked a deal with ADM business PLC, a newly-formed local business and a subsidiary of Get-As International, to open the Ramada Addis – a four-star hotel in Addis Ababa. The Ramada Addis will be sited on Bole road.
According to Bani Haddad, the regional vice-president of the Wyndham group for the Middle East and Africa, 136 rooms which are branded via Ramada Hotels and Resorts will be functional in 2015. The Ramada Addis will cost USD 25 million after completion, Dawit Bati, representative of ADM, told The Reporter. Ramada Addis is expected to employee a staff of 250.
Read more at: The Reporter