African Hotel Investment Forum Opens in Addis Ababa

By Staff Reporter

Africa-Hotel-Investment-ForumSeptember 24, 2019 (Ezega.com) -- The African Hotel Investment Forum is being held in Addis Ababa, Ethiopia, beginning today. The forum, which is being held for two days, will focus on the economic conditions of the world, the capacity of hotels in Africa and what they need to do to make Africa a destination for tourism and travel.

Prior to the hosting of African Hotel Investment Forum (AHIF), prominent figures from Ethiopia’s public and private sectors have spoken out publicly to welcome the return of AHIF to Addis Ababa.

In this regard AHIF in its Capacity has been attracting many prominent international hotel owners, investors, financiers, management companies and their advisers.

Minister of Culture and Tourism of Ethiopia, Dr. Hirut Kassu, and various hotel sector experts from 52 countries were present at the opening of the forum.

In an Opening remark, the Minister of Culture and Tourism, Dr. Hirut Kasu, congratulated the participants of the forum and noted about the availability of jobs in Africa in the hotel investment sector.

The minister, who reflected about the Ethiopian Tourism experience, noted about the lack of utilizing the potential of tourism resources in Ethiopia.

‘The promotion of tourism is critical issue for many African countries including Ethiopia. A rapidly growing national airline, a new hub airport, relaxed visa regulations, and the country being the political center of Africa, by virtue of hosting the headquarters of the African Union, are drivers of the impressive progress,’ The minster noted.

‘Ethiopia’s Objective is to show its potential and attract more international-standard hotel and resort brands to establish themselves close to Ethiopia’s historical, natural and cultural sites, in addition to the capital city, Addis Ababa,’ she added.

She further stressed about the importance of hotel investments for the effective use of nature’s gift where the minster underlined about the government’s continuous support to attract and provide attractive ground for investors working in the sector.

Nick Van Marken, Managing Director of Van Marken, Tim Corden, Vice President of the Middle East and Africa Group of Radisson Hotel, Mr. Guwavin paskal, Managing Director of Intercontinental Hotel India, Middle East and Africa, and Mark Willes, the executive director of ACOR, made their specific point of view on how to expand the hotel investment sector in African countries.

Recently, Addis Ababa posted Africa’s highest average daily rate, According to the most recent 12-month data from STR. ‘Addis Ababa Continues to maintain high ADR levels when compared internationally,’ said Thomas Emanuel; Director of STR when recalling on the city’s multiple demand drivers such as growing economy, successful airline and its status as the diplomatic capital of Africa.

Despite the success the Ethiopian Ministry of Tourism has achieved so far, there are also many challenges that need to be addressed. According to experts of the field, plagued by operational inefficiencies, lackluster bureaucracy, internal conflicts, and non-existent leadership, the organization has struggled to make progress on its goal of making Ethiopia the premier destination in Africa, despite having many of the tools within its arsenal.

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