Nigeria has moved into second place in Africa’s 2024 Hotel Development Rankings, with 7,622 rooms across 50 hotels, driven by key developments from global hotel chains like Hilton, Radisson, Marriott International, and Leva Hotels, with Lagos leading the way with five new hotel deals.
Egypt retains the top spot with 26,241 rooms, while Morocco follows closely with 7,169 rooms.
Other countries at the top include Ethiopia (5,128 rooms), Cape Verde (5,056 rooms), and Tunisia (4,121 rooms). Kenya, South Africa, Algeria, and Ghana complete the top 10 countries by room numbers.
The 2024 Africa Hotel Chain Development Pipelines Report reveals an 8% increase in the total number of hotels and a 9% rise in available rooms across Sub-Saharan Africa. This data is sourced from the BuyLetLive 2024 Nigeria Property Price Index Report.
“The 2024 Africa Hotel Chain Development Pipelines Report revealed a significant increase in hotel development across Sub-Saharan Africa. Compared to 2023, the region saw an 8% rise in total hotels and a 9% increase in available rooms, indicating continued investment and growth in the hospitality sector. This expansion aligns with the broader growth trend in Africa’s tourism industry.
“Nigeria, specifically, moved into second place this year with nine new deals signed in 2023. These deals were primarily by Hilton and Radisson, each securing three, followed by Marriott International with two, and Leva Hotels with one. Lagos continued to dominate the market, with five of these new deals located in the city, underscoring its position as a key destination for hotel investments in the region,” the report read in part.
This surge in hotel development reflects the increasing demand for hospitality services across Africa, particularly in Nigeria, which continues to attract global hotel chains looking to expand their footprint in the region.
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The BuyLetLive 2024 Nigeria Property Price Index Report further revealed Protea Hotels by Marriott’s expansion into Nigeria and Zambia, marking a significant growth in the hospitality sector. In Nigeria, the hotel, located in Ekpan Warri’s business district, Delta State, features 69 guest rooms, three conference rooms, and recreational facilities.
- The Zambia property, situated at Lusaka International Airport, includes 72 guest rooms, meeting rooms, and a restaurant. These additions bring Protea Hotels’ African presence to over 60 properties across nine countries, including Nigeria.
- Additionally, the Imo State government, in partnership with Afreximbank, Fidelity Bank, and others, signed an MOU to develop a 200-room Marriott Hotel, aimed at boosting regional hospitality and tourism.
- Furthermore, the report noted that Nigeria’s tourism sector is poised for strong growth, with Statista projecting an annual rate of 11.23%, potentially reaching a market size of $5.6 billion.
This growth is supported by infrastructure projects like the Cross River State government’s entertainment center at Tortugal Island in Calabar, which aims to attract tourists, create jobs, and drive regional economic development.
