Hotels and Leisure

African real estate market still standing after tough 2016

African real estate has had a tough year navigating diffcult economic conditions. Most investors on the continent remain private equity groups as opposed to long term investors or Real Estate Investment Trust ( Reit) investors. ... Full story

Ethiopia's iconic hotel set to be demolished

Ethiopia Hotel and the adjacent Bego Adragot building are to be torn down within the next month. Belayneh Kindie, the import export mogul, bought the Hotel in 2010 for 92 million Br. ... Full story

CEO of SA's Sun International quits

Graeme Stephens, the chief executive of South African hotels and casinos operator Sun International which owns flagship resort property Sun City, near Rustenburg, is to step down at the end of April 2017. ... Full story

Marriott International to debut Element brand in Egypt

Marriott International (NASDAQ: MAR) announced plans to debut Element Hotels, the eco-incubator brand in Egypt in early 2019. ... Full story

Hilton to develop Hotel in Africa’s tallest development

Hilton Worldwide (NYSE:HLT) has unveiled plans to built a 255 guest-room and suite hotel in Kenya’s capital, Nairobi – expected to open in 2020. ... Full story

Rwanda’s Property market indicates a bubble is about to burst

KIGALI — Real estate developers have been pouring money into new investments at a frantic pace in Rwanda's property market, fueling concerns that a bubble may be unavoidable. ... Full story

Nigeria's weak economy leads Sun International to the exit door

JOHANNESBURG – South Africa's Hotel and gaming group, Sun International Ltd [JSE:SUI] announced on Monday that it will packing its bags exiting Nigeria, amid a number of factors. ... Full story

South African Property Market worth $403-billion

South African property market is currently valued at a staggering USD $403 billion (R5.8-trillion ZAR), according to latest research released by the Property Sector Charter Council (PSCC) in Johannesburg on Tuesday. ... Full story

Number of new Hotel developments on the rise

Africa's hospitality market has seen a very rapid rise in the number of new hotel development pipeline — especially in Nigeria, Angola, Egypt and Kenya. ... Full story

Breaking 'ground' on first Hilton Hotel in Cape Verde

Luxurious beach front hotels developer, the Resort Group is developing first Hilton Hotel in Cape Verde’s capital and largest city, Praia. ... Full story

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