Addis Ababa – Starwood Hotels & Resorts Worldwide, Inc. as part of its aggressive expansion plan in Africa which aims at increasing its market penetration across the region, has signed an agreement with Alemgenet Trade and Industry PLC to open Alemgenet Trade and Industry PLC in Addis Ababa.
Four Points by Sheraton – a mid-scale brand – spearheads Starwood’s growth in the mid-market segment in Africa. The agreement was signed on Tuesday, December 22 between Alem Fitsum, managing director of Alemgenet Trade and Industry PLC, and David Grossniklaus, operational manger at Starwood. Four Points by Sheraton is expected to be the tallest hotel in Addis Ababa, which is currently under construction off Africa Avenue adjacent Flamingo Bar and Restaurant on a 2,200sq.m plot.
The total cost of the project is expected to reach 120 million dollars with the design costing more than one million dollars. The design is said to incorporate Ethiopian values and will also have a museum that depicts the country’s rich cultural and tourism attractions.
Read more at: The Reporter