Addis Ababa, Ethiopia – After 45.5 million dollars investment, protracted franchise negotiations, complete remodeling and long delays, Sunshine Investment Group will open Marriott Executive Hotel in Addis Abeba today.
Sunshine expects the new Marriott Executive Apartments will generate between 600,000 and a million dollars a month, the Group’s president Samuel Tafese told Fortune this afternoon. The Marriott Executive Apartments are international, upscale, service apartment properties intended primarily for expatriate executives whose business purposes require them to stay more than 30 nights in Addis Abeba.
The investment Group is also expected to sign a management and franchise agreement with Hilton Worldwide tomorrow to build Hilton Resort at the lake-side town of Hawassa, with an outlay of 42 million dollars investment.
Marriott Executive Apartments inauguration is also expected to host a signing of agreement between Sunshine and Marriott to upgrade the ongoing Courtyard Marriott adjacent to Bole Medhanealem Church into a Five Star world-class international hotel. The project is slated to cost the group 75 million dollars.
Source: Addis Fortune