Latest news with #CoteDIvoire
Zawya
11 hours ago
- Business
- Zawya
Marriott to add 50 properties, 9,000 rooms in Africa by 2027
Marriott International has announced plans to expand its operations in Africa with the anticipated addition of over 50 properties and more than 9,000 rooms by the end of 2027. The company's growth strategy includes the expected entry into five markets - Cape Verde, Cote d'Ivoire, The Democratic Republic of Congo, Madagascar and Mauritania. The planned expansion aims to further strengthen the company's footprint across the continent where its current operating portfolio encompasses nearly 150 properties and 26,000 rooms across 20 countries and 22 brands. 'We are witnessing a transformation of Africa's tourism sector driven by visionary government agendas, substantial infrastructure development, enhanced regional and international connectivity and diversified travel experiences, all of which are laying the foundation for a thriving hospitality sector,' said Jerome Briet, Chief Development Officer, Europe, Middle East & Africa, Marriott International. 'With our renowned portfolio of brands, world-class distribution platform and award-winning travel programme, Marriott Bonvoy, we continue to drive robust expansion opportunities with owners and franchisees across Africa and remain committed to supporting the growth of its tourism sector.' Marriott's planned expansion aims to enhance the strategic development of the company's luxury, premium and select-service portfolio across key and emerging destinations in Africa. The company's growth across the continent is expected to be largely driven by its select-service brands, including Protea Hotels by Marriott and Four Points by Sheraton, and a strong consumer demand for distinctive, high-quality hospitality experiences. Tanzania, Egypt, Morocco, Kenya and Nigeria are the highest growth markets for the company in the continent, making up more than half of the projects slated to open in the next two years. Conversions and adaptive reuse opportunities are also anticipated to continue to drive meaningful growth for the company, representing more than 30 percent of the anticipated African additions by the end of 2027. The company is also seeing an increased appetite for branded residential projects across the continent. Karim Cheltout, Senior Vice President – Development, Middle East & Africa, Marriott International, added, 'Africa is home to emerging marketplaces that offer significant growth opportunities across major gateway cities, commercial centres, safari circuits and resort destinations. Through our diverse range of extraordinary brands, we are in a position to work with developers to offer high quality accommodations along with distinct and innovative travel experiences that resonate with today's rapidly evolving consumer." NORTH AND EAST AFRICA FUEL EXPANSION PLANS FOR THE CONTINENT Marriott is witnessing strong growth momentum in the North and East Africa regions, which together account for more than 60 percent of the company's planned additions in Africa by the end of 2027. Egypt and Morocco are expected to lead the expansion for Marriott in North Africa. Plans in Egypt include the anticipated debut of Aloft Hotels in the continent, with the opening of Aloft Ghazala Bay situated in the North Coast of the country expected in 2027. More than 50 percent of the company's expected additions in Egypt by the end of 2027 are conversion or adaptive reuse projects. Expansion highlights for Morocco include the anticipated market debut of AC Hotels by Marriott with a scheduled opening in Casablanca in 2027. In East Africa, the company continues to see growth momentum with safari lodges and camps spurred by a growing appeal for adventure and outdoor travel. Following the successful opening of JW Marriott Masai Mara Lodge in 2023, the company is slated to open six safari properties across the region by the end of 2027, including The Ritz-Carlton, Masai Mara Safari Camp (Kenya), and Mapito Safari Camp, Serengeti, Autograph Collection (Tanzania) - both of which are scheduled to open this year. Marriott's portfolio in Tanzania is anticipated to more than double by the end of 2027 while in Kenya the company plans to open five properties including the debut of Courtyard by Marriott with two expected openings in Nairobi in 2027. Growth plans in Uganda include the country's first Marriott Hotel and Marriott Executive Apartments with scheduled openings in Kampala by the end of this year. DEMAND FOR PREMIUM AND SELECT ACCOMMODATION REMAINS STRONG IN WEST AFRICA By the end of 2027, the company expects to add six properties in Nigeria, its largest growth market in the West Africa region. Plans include the introduction of Courtyard by Marriott in the country with anticipated openings in Abuja within the next two years, and the continued expansion of Protea Hotels by Marriott and Marriott Hotels. Marriott is also slated to enter three new markets in West Africa in the next two years. Four Points by Sheraton Sao Vicente Resort is anticipated to open this year, marking the company's debut in Cape Verde. Marriott is also expected to enter Côte d'Ivoire in 2027, with an Autograph Collection Hotel located in Assinie-Mafia, and Mauritania with a Sheraton Hotel situated in Nouakchott, which is expected to open later this year. GROWTH ACROSS SOUTHERN AND CENTRAL AFRICA REMAINS STEADY The company's largest market in Africa, South Africa, is expected to see an expansion of the Autograph Collection Hotels brand portfolio with the opening of Morea House in Cape Town this year, followed by the anticipated addition of a property within Kruger National Park in 2026. Marriott also plans to enter The Democratic Republic of Congo by the end of this year with a Protea Hotel by Marriott and Four Points by Sheraton in Kinshasa. The company is also expected to make its debut in Madagascar with the opening of a Delta Hotels by Marriott this year and a Protea Hotel by Marriott anticipated in 2026 in Antananarivo. The company's planned expansion also includes the anticipated debut of Le Méridien in Cameroon in 2027.
Al Bawaba
2 days ago
- Business
- Al Bawaba
Marriott International announces plans to add more than 50 properties and over 9,000 rooms to its Africa portfolio by the end of 2027
Marriott International, Inc. (Nasdaq: MAR) today announced plans to expand its operations in Africa with the anticipated addition of over 50 properties and more than 9,000 rooms by the end of 2027. The company's growth strategy includes the expected entry into five markets - Cape Verde, Cote d'Ivoire, The Democratic Republic of Congo, Madagascar and Mauritania. The planned expansion aims to further strengthen the company's footprint across the continent where its current operating portfolio encompasses nearly 150 properties and 26,000 rooms across 20 countries and 22 brands.'We are witnessing a transformation of Africa's tourism sector driven by visionary government agendas, substantial infrastructure development, enhanced regional and international connectivity and diversified travel experiences, all of which are laying the foundation for a thriving hospitality sector,' said Jerome Briet, Chief Development Officer, Europe, Middle East & Africa, Marriott International. 'With our renowned portfolio of brands, world-class distribution platform and award-winning travel programme, Marriott Bonvoy, we continue to drive robust expansion opportunities with owners and franchisees across Africa and remain committed to supporting the growth of its tourism sector.'Marriott's planned expansion aims to enhance the strategic development of the company's luxury, premium and select-service portfolio across key and emerging destinations in Africa. The company's growth across the continent is expected to be largely driven by its select-service brands, including Protea Hotels by Marriott and Four Points by Sheraton, and a strong consumer demand for distinctive, high-quality hospitality experiences. Tanzania, Egypt, Morocco, Kenya and Nigeria are the highest growth markets for the company in the continent, making up more than half of the projects slated to open in the next two years. Conversions and adaptive reuse opportunities are also anticipated to continue to drive meaningful growth for the company, representing more than 30 percent of the anticipated African additions by the end of 2027. The company is also seeing an increased appetite for branded residential projects across the Cheltout, Senior Vice President – Development, Middle East & Africa, Marriott International added, 'Africa is home to emerging marketplaces that offer significant growth opportunities across major gateway cities, commercial centres, safari circuits and resort destinations. Through our diverse range of extraordinary brands, we are in a position to work with developers to offer high quality accommodations along with distinct and innovative travel experiences that resonate with today's rapidly evolving consumer."North and East Africa Fuel Expansion Plans for the ContinentMarriott is witnessing strong growth momentum in the North and East Africa regions, which together account for more than 60 percent of the company's planned additions in Africa by the end of 2027. Egypt and Morocco are expected to lead the expansion for Marriott in North Africa. Plans in Egypt include the anticipated debut of Aloft Hotels in the continent, with the opening of Aloft Ghazala Bay situated in the North Coast of the country expected in than 50 percent of the company's expected additions in Egypt by the end of 2027 are conversion or adaptive reuse projects. Expansion highlights for Morocco include the anticipated market debut of AC Hotels by Marriott with a scheduled opening in Casablanca in East Africa, the company continues to see growth momentum with safari lodges and camps spurred by a growing appeal for adventure and outdoor travel. Following the successful opening of JW Marriott Masai Mara Lodge in 2023, the company is slated to open six safari properties across the region by the end of 2027, including The Ritz-Carlton, Masai Mara Safari Camp (Kenya), and Mapito Safari Camp, Serengeti, Autograph Collection (Tanzania) - both of which are scheduled to open this portfolio in Tanzania is anticipated to more than double by the end of 2027 while in Kenya the company plans to open five properties including the debut of Courtyard by Marriott with two expected openings in Nairobi in 2027. Growth plans in Uganda include the country's first Marriott Hotel and Marriott Executive Apartments with scheduled openings in Kampala by the end of this for Premium and Select Accommodation Remains Strong in West AfricaBy the end of 2027, the company expects to add six properties in Nigeria, its largest growth market in the West Africa region. Plans include the introduction of Courtyard by Marriott in the country with anticipated openings in Abuja within the next two years, and the continued expansion of Protea Hotels by Marriott and Marriott is also slated to enter three new markets in West Africa in the next two years. Four Points by Sheraton Sao Vicente Resort is anticipated to open this year, marking the company's debut in Cape Verde. Marriott is also expected to enter Côte d'Ivoire in 2027, with an Autograph Collection Hotel located in Assinie-Mafia, and Mauritania with a Sheraton Hotel situated in Nouakchott, which is expected to open later this across Southern and Central Africa Remains Steady The company's largest market in Africa, South Africa, is expected to see an expansion of the Autograph Collection Hotels brand portfolio with the opening of Morea House in Cape Town this year, followed by the anticipated addition of a property within Kruger National Park in 2026. Marriott also plans to enter The Democratic Republic of Congo by the end of this year with a Protea Hotel by Marriott and Four Points by Sheraton in Kinshasa. The company is also expected to make its debut in Madagascar with the opening of a Delta Hotels by Marriott this year and a Protea Hotel by Marriott anticipated in 2026 in Antananarivo. The company's planned expansion also includes the anticipated debut of Le Méridien in Cameroon in 2027.
Zawya
2 days ago
- Business
- Zawya
Marriott International announces plans to add more than 50 properties and over 9,000 rooms to its Africa portfolio by the end of 2027
From the Future Hospitality Summit Africa in Cape Town, South Africa, Marriott International, Inc. (Nasdaq: MAR) today announced plans to expand its operations in Africa with the anticipated addition of over 50 properties and more than 9,000 rooms by the end of 2027. The company's growth strategy includes the expected entry into five markets - Cape Verde, Cote d'Ivoire, The Democratic Republic of Congo, Madagascar and Mauritania. The planned expansion aims to further strengthen the company's footprint across the continent where its current operating portfolio encompasses nearly 150 properties and 26,000 rooms across 20 countries and 22 brands. 'We are witnessing a transformation of Africa's tourism sector driven by visionary government agendas, substantial infrastructure development, enhanced regional and international connectivity and diversified travel experiences, all of which are laying the foundation for a thriving hospitality sector,' said Jerome Briet, Chief Development Officer, Europe, Middle East&Africa, Marriott International. 'With our renowned portfolio of brands, world-class distribution platform and award-winning travel programme, Marriott Bonvoy, we continue to drive robust expansion opportunities with owners and franchisees across Africa and remain committed to supporting the growth of its tourism sector.' Marriott's planned expansion aims to enhance the strategic development of the company's luxury, premium and select-service portfolio across key and emerging destinations in Africa. The company's growth across the continent is expected to be largely driven by its select-service brands, including Protea Hotels by Marriott and Four Points by Sheraton, and a strong consumer demand for distinctive, high-quality hospitality experiences. Tanzania, Egypt, Morocco, Kenya and Nigeria are the highest growth markets for the company in the continent, making up more than half of the projects slated to open in the next two years. Conversions and adaptive reuse opportunities are also anticipated to continue to drive meaningful growth for the company, representing more than 30 percent of the anticipated African additions by the end of 2027. The company is also seeing an increased appetite for branded residential projects across the continent. Karim Cheltout, Senior Vice President – Development, Middle East&Africa, Marriott International added, 'Africa is home to emerging marketplaces that offer significant growth opportunities across major gateway cities, commercial centres, safari circuits and resort destinations. Through our diverse range of extraordinary brands, we are in a position to work with developers to offer high quality accommodations along with distinct and innovative travel experiences that resonate with today's rapidly evolving consumer." North and East Africa Fuel Expansion Plans for the Continent Marriott is witnessing strong growth momentum in the North and East Africa regions, which together account for more than 60 percent of the company's planned additions in Africa by the end of 2027. Egypt and Morocco are expected to lead the expansion for Marriott in North Africa. Plans in Egypt include the anticipated debut of Aloft Hotels in the continent, with the opening of Aloft Ghazala Bay situated in the North Coast of the country expected in 2027. More than 50 percent of the company's expected additions in Egypt by the end of 2027 are conversion or adaptive reuse projects. Expansion highlights for Morocco include the anticipated market debut of AC Hotels by Marriott with a scheduled opening in Casablanca in 2027. In East Africa, the company continues to see growth momentum with safari lodges and camps spurred by a growing appeal for adventure and outdoor travel. Following the successful opening of JW Marriott Masai Mara Lodge in 2023, the company is slated to open six safari properties across the region by the end of 2027, including The Ritz-Carlton, Masai Mara Safari Camp (Kenya), and Mapito Safari Camp, Serengeti, Autograph Collection (Tanzania) - both of which are scheduled to open this year. Marriott's portfolio in Tanzania is anticipated to more than double by the end of 2027 while in Kenya the company plans to open five properties including the debut of Courtyard by Marriott with two expected openings in Nairobi in 2027. Growth plans in Uganda include the country's first Marriott Hotel and Marriott Executive Apartments with scheduled openings in Kampala by the end of this year. Demand for Premium and Select Accommodation Remains Strong in West Africa By the end of 2027, the company expects to add six properties in Nigeria, its largest growth market in the West Africa region. Plans include the introduction of Courtyard by Marriott in the country with anticipated openings in Abuja within the next two years, and the continued expansion of Protea Hotels by Marriott and Marriott Hotels. Marriott is also slated to enter three new markets in West Africa in the next two years. Four Points by Sheraton Sao Vicente Resort is anticipated to open this year, marking the company's debut in Cape Verde. Marriott is also expected to enter Côte d'Ivoire in 2027, with an Autograph Collection Hotel located in Assinie-Mafia, and Mauritania with a Sheraton Hotel situated in Nouakchott, which is expected to open later this year. Growth across Southern and Central Africa Remains Steady The company's largest market in Africa, South Africa, is expected to see an expansion of the Autograph Collection Hotels brand portfolio with the opening of Morea House in Cape Town this year, followed by the anticipated addition of a property within Kruger National Park in 2026. Marriott also plans to enter The Democratic Republic of Congo by the end of this year with a Protea Hotel by Marriott and Four Points by Sheraton in Kinshasa. The company is also expected to make its debut in Madagascar with the opening of a Delta Hotels by Marriott this year and a Protea Hotel by Marriott anticipated in 2026 in Antananarivo. The company's planned expansion also includes the anticipated debut of Le Méridien in Cameroon in 2027. Distributed by APO Group on behalf of The Bench. Note on Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of United States federal securities laws, including statements related to expected property openings, additions and portfolio growth; entry into new markets and brand debuts in certain markets; our expectations regarding growth opportunities; demand trends and expectations, including demand for certain offering types; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including the risk factors that we identify in our U.S. Securities and Exchange Commission filings, including our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release and undertake no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise. Media contacts: Chandan Belani Senior Director of Communications MEA&Development PR, EMEA Marriott International Birgit Deibele Senior Director of Communications Sub-Saharan Africa Marriott International Connect with us on: Facebook: ( X: ( Instagram: ( About Marriott International: Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 9,500 properties across more than 30 leading brands in 144 countries and territories. Marriott operates, franchises, and licenses hotel, residential, timeshare, and other lodging properties all around the world. The company offers Marriott Bonvoy ®, its highly awarded travel platform. For more information, please visit our website at and for the latest company news, visit Marriott encourages investors, the media, and others interested in the company to review and subscribe to the information Marriott posts on its investor relations website at or Marriott's news center website at which may be material. The contents of these websites are not incorporated by reference into this press release or any report or document Marriott files with the U.S. Securities and Exchange Commission, and any references to the websites are intended to be inactive textual references only.
Zawya
04-06-2025
- Business
- Zawya
Nigeria's VivaJets Receives Air Operator Certificate, Advocates Free Aviation in Africa
Frontline Nigerian business aviation firm, VivaJets, has received its Air Operating Certificate (AOC) from the Nigerian Civil Aviation Authority (NCAA), amidst a rapid global expansion in the last two years and advocacy for the reduction of continental barriers to air travel. According to CEO, Erika Achum, having an African AOC gives the firm commercial rights into the 34 countries which have ratified the Yamoussoukro decision, a precursor to the Single African Air Transport Market, (SAATM). "Our story illustrates the transformative power of business aviation in improving connectivity and innovation across Africa. We believe that Africa's prosperity lies in connectivity within and with the continent," said Achum. Since inception two years ago, VivaJets has participated in several international events, where the firm has advocated for free aviation across Africa. At the 2025 Africa CEO Forum (ACF) in Abidjan, Cote D'Ivoire, Achum issued a clarion call for the urgent dismantling of long-standing barriers to air travel within the continent, emphasizing that aviation is a key driver of economic integration and growth on the continent. 'Our skies are still segmented by outdated agreements and policies,' he said. 'What Africa needs is a unified, modern aviation strategy that prioritizes accessibility, innovation, and collaboration.' 'We are a continent of over 1.4 billion people, with growing cities, industries, and innovation hubs. If we get aviation right, we unlock a future where Africans can move, trade, and connect freely; and that future is within reach,' he added. VivaJets has had a remarkable growth over the last two years, with an expanded fleet, global routes, and a rapidly growing team, whilst showcasing a unique cabin crew outfit created by iconic fashion designer, Loza Maleombho at the Lagos Fashion Week last November 2024. In April 2025, the firm unveiled Above, a travel magazine. According to Chief Operating Officer, Tejumade Salami, the company's journey has been built on the shoulders of an extraordinary team. 'We have been blessed by the most dedicated and creative team, and as we look to the future, we are committed to scaling even greater heights — delivering excellence, fostering innovation, and shaping the future of private aviation in Africa," she said. 'Finally, with the award of its AOC and the unveiling of ABOVE magazine, Falcon Aerospace continues to prove its position as a forward-thinking leader in Africa's private aviation sector, bringing in new levels of connectivity, innovation, and cultural pride,' she added. Distributed by APO Group on behalf of Falcon Aerospace Limited. About VivaJets: A brand under Falcon Aerospace Limited, VivaJets provides aircraft charter, management, sales and acquisition services with a focus on innovation and accessibility. In just two years, VivaJets has grown from a visionary start-up with no fleet and no operating license into a fully licensed aviation company with expanding global routes, international collaborations, and pioneering innovations. Alongside VivaJets, Falcon Aero is the brand owner of digital aviation platforms, FlyPJX and CharterXE, and tech and business incubation firms, Instig Labs and The Adrenalina.
Zawya
15-05-2025
- Business
- Zawya
IFC and Canada invest in Husk to catalyze solar-powered economic growth in rural Nigeria
Abidjan, Cote d'Ivoire — The International Finance Corporation (IFC), a member of the World Bank Group, with the support of the Government of Canada, today announced a $5 million investment in Husk Power Energy Systems Nigeria Limited (Husk Nigeria), a subsidiary of Husk Power Systems Inc., to expand access to reliable, renewable energy in underserved communities across Nigeria. The financing will support the rollout of Husk's portfolio of solar hybrid mini grids in Northern Nigeria, helping address one of the country's most urgent development challenges: access to electricity. It marks the first investment under the IFC Distributed Access through Renewable Energy Scale-up (DARES) Platform, a $200 million debt facility approved in November 2024 to catalyze private sector solutions across West and Central Africa. The DARES Platform complements the World Bank-financed Nigeria DARES Project, a $750 million initiative launched in December 2023 and implemented by Nigeria's Rural Electrification Agency. Together, these efforts aim to provide over 17.5 million Nigerians with new or improved electricity access through decentralized renewable energy (DRE) systems. IFC's financing package will enable Husk to develop and operate up to 108 mini-grid sites, resulting in approximately 28,750 new electricity connections and delivering clean, affordable energy to around 115,000 people and businesses. Husk's solar hybrid mini-grids offer a cost-effective alternative to diesel generators, providing users with at least 25% in cost savings while significantly reducing greenhouse gas emissions. The total project cost is estimated at $[25] million. IFC's $5 million package includes a $2.5 million senior loan from its own account and a $2.5 million concessional subordinated loan from the Canada-IFC Renewable Energy Program for Africa. The facility is structured as a revolving loan, allowing Husk to repay and redraw funds multiple times during the project's implementation. "The DARES Platform is an innovative approach to tackling one of Africa's most pressing challenges—energy access. By partnering with Husk, a leading renewable energy developer globally, through the first project under the DARES Platform, we are not only addressing the immediate electricity needs of underserved communities in Nigeria but also laying the foundation for a scalable model that can be replicated across the continent. This initiative underscores IFC's commitment to advancing sustainable energy solutions through strong partnerships between the private sector, governments, and development institutions," said [Ethiopis Tafara, Regional Vice President of Africa], IFC. "This innovative debt facility is exactly what the minigrid industry needs to scale -- blended, long-term and affordable capital," said Husk Co-Founder and CEO Manoj Sinha. "Access to working capital is critical for sustained and rapid growth. Adding 108 new communities to our minigrid portfolio with IFC support is an important step toward our goal of deploying at least 250MW of decentralized renewable energy projects in Nigeria." said [Olu Aruike, Manager, Husk Nigeria]. Despite being Africa's largest economy, Nigeria has the world's highest electricity access deficit, with over 85 million people living without power. Even those connected to the national grid often experience unreliable supply, prompting widespread reliance on expensive and polluting diesel generators. The DARES Platform supports the World Bank Group and African Development Bank's Mission 300, launched in April 2024, which aims to bring electricity access to 300 million people across Africa by 2030. The platform also promotes gender inclusion and productive energy use, with a focus on reaching female-headed households, supporting women-led MSMEs, and enabling job creation for women in the energy sector. About IFC IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit About the Canada-IFC Renewable Energy Program for Africa The Canada-IFC Renewable Energy Program for Africa promotes private sector financing for renewable energy projects in Sub-Saharan Africa as a means to improve access to affordable and sustainable energy services that can play an important role in reducing poverty, reducing gender inequality, and tackling climate change. Canada has committed $150 million Canadian dollars to this climate program to structure blended finance solutions that enable high-impact energy projects in Sub-Saharan Africa. The program is part of Canada's support for the Africa Renewable Energy Initiative: About Husk Husk is an award-winning clean energy company serving communities in Asia and Sub-Saharan Africa. In 2024, Husk was named one of Fast Company's 50 Most Innovative Companies in the World, ranking #24 overall, and #1 in the energy category. In 2023, it was also named 'World's Best Challenger Brand' in the energy industry, and CEO Manoj Sinha was selected as a TIME 100 Most Influential Climate Leaders in Business. Husk's AI-powered energy platform provides 24/7 renewable power to residential and commercial customers, institutions and small factories. It also delivers a range of other products and services, including e-commerce and credit-financing of branded appliances for home and commercial use, as well as community-based solutions for e-mobility and the agricultural value chain. Husk's mission is to supercharge economic growth and social well-being in communities that are unserved and underserved.
