Kasada Hospitality Fund secures US$270m equity investments from World Bank’s MIGA

KENYA – MIGA, a member of the World Bank Group, has issued a Master Contract to Kasada Hospitality Fund that will provide guarantees up to US$270 million of the fund’s equity investments aiming to lead the redevelopment and construction of hotels in Sub-Saharan African countries. The guarantees will provide coverage against the risks of Transfer Restriction, Expropriation, and War and…

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Hospitality group Accor launches two new hotels in Guinea

GUINEA – Accor, a global hospitality group with over 400 hotels across India, the Middle East, Africa and Turkey is expanding its footprint in Africa, with the signing of a twofold project: a Novotel hotel and the first Novotel Living in Africa, both located in Conakry, Guinea. Strategically located in the Centre Business District (CBD) of Conakry, in close proximity…

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Radisson Hotel Group acquires Lincoln Casablanca, debuts its third brand in Morocco

MOROCCO – Radisson Hotel Group and REALITES Groupe have announced the signing of Lincoln Casablanca, a Radisson Collection Hotel, debuting Radisson Hotel Group’s third brand in Morocco. Radisson Collection also marks the Group’s ninth hotel signing in Morocco this year, bringing its portfolio in the country to 11 hotels in operation and under development, and setting the Group firmly on…

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Hospitality group Accor announces plans for Fairmont Djibouti

DJIBOUTI – Accor, a globally renowned hospitality group, is including a brand-new flagship property to its portfolio in Africa with Fairmont Djibouti. Set to open in 2024, the resort will function 155 rooms and ten serviced residences, with 5 meals and beverage retailers mixed with 1,398 sqm of occasions amenities. Situated in Djibouti Metropolis, the capital of Djibouti and one…

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IHG Hotels & Resorts launches four new Hotel Indigo branded properties in Egypt

EGYPT – IHG Hotels & Resorts, one of the world’s leading hotel companies, is expanding its presence in Egypt with four new Hotel Indigo branded properties. As part of a Management Agreement signed with real-estate specialists Mountain View, IHG will introduce the world’s first globally branded boutique hotel brand, Hotel Indigo, to Egypt with Hotel Indigo Mountain View North Coast,…

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Tech startup SmartHotel closes US$2m Pre-series A round to expand its services

NIGERIA – SmartHotel, a startup that develops software for the hospitality industry, has closed a US$1 million Pre-series A round from existing investor Smok Ventures to expand its services across Africa and Europe. The round also saw participation from LT Capital Ventures, Next Road Ventures, Wiktor Schmidt – co-owner of Netguru (one of the biggest software developing companies in Europe),…

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Radisson Group partners Madaef to launch seven Moroccan hotels

MOROCCO – Radisson Hotel Group has partnered with Madaëf to announce the signing of seven Moroccan hotels which will be located in renowned tourist areas, Al Hoceima, Saïdia and Taghazout. The new portfolio consisting of resorts and residences will add over 1600 rooms bringing the Group’s Moroccan portfolio to 10 hotels, fast-tracking its strategy to reach 15 hotels in operation…

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Arkan Palm partners Crowne Plaza West Cairo for its latest project

EGYPT – Arkan Palm, a subsidiary of Palm Hills Developments, has announced the signing of a service partnership with the upcoming Crowne Plaza West Cairo (an IHG Hotel) for its latest residential community project in Sheikh Zayed City, Canal Walk Island. Located in a strategic location on 205 acres, Canal Walk Island consists of a series of luxury hotel apartments…

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11 Plc set to acquire controlling stake in hospitality company Capital Hotel Plc

NIGERIA – Capital Hotel Plc, owners of Sheraton Abuja Hotel, is set to sell 51 per cent stake in the company to 11 Plc, formerly Mobil Oil Nigeria Plc. In a notification to the Nigerian Exchange (NGX) Limited, the board of Capital Hotel Plc said the decision sell the 51per cent stake to 11 Plc was reached at the emergency…

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Radisson Hotel Group debuts third hotel in Morocco – Radisson Hotel Casablanca Gauthier La Citadelle

MOROCO – Radisson Hotel Group has announced the debut of its second brand and third hotel in Morocco with the signing of Radisson Hotel Casablanca Gauthier La Citadelle in partnership with Al Hoceinia Hospitality. With construction already underway, the hotel is scheduled to open in 2023 and will consist of 133 guestrooms and suites. Located in the heart of Casablanca’s…

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