Marriott to acquire major African hotel firm

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Global hotel giant Marriott International has signed a letter of intent to buy a South African company that operates or franchises 116 properties on the continent.

The deal is likely to make Marriott the biggest hotel firm in Africa, an increasingly competitive market for global operators.

In a statement, Marriott said that it hoped to close the deal to buy Protea Hotels by the first quarter of next year. The proposed value of the deal has not yet been made public.

Protea Hotels, which is owned by Protea Hospitality Group, encompasses three separate brands, with 80 properties in South Africa and further hotels in Malawi, Namibia, Nigeria, Tanzania, Uganda and Zambia.

"The development cycle for opening new hotels in Africa is typically long due to the challenges posed by emerging infrastructure," Alex Kyriakidis, Marriott International's president for the Middle East and Africa said.

"Joining forces with Protea Hotels and their highly respected management team is the strongest way to jumpstart Marriott's footprint in Africa."

The deal will nearly double Marriott's presence in Africa to more than 23,000 rooms.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Over half of suppliers asked for bribes by hotel managers - survey

Over half of suppliers asked for bribes by hotel managers - survey

Nearly three quarters of suppliers said they know of other firms...

3
The new RNB stars

The new RNB stars

How Jason Myers, Gert Kopera and Christian Gradnitzer plan to...

100-year anniversary of commercial passenger aviation

100-year anniversary of commercial passenger aviation

On New Year’s Day 1914, the first paying aeroplane passenger...

Most Discussed
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams