The agreement will see IHG® expand its presence in sub-Saharan Africa, including countries such as South Africa, Botswana, Mozambique, Mauritius, Ethiopia, Zambia and Kenya. According to IHG®, the development adds to its growing pipeline in the Middle East and Africa and cements its position as one of the leading operators in the region.
Valor Hospitality Partners Africa is a subsidiary of Valor Hospitality Partners Global that manages and asset manages projects across America, the United Kingdom, Middle East, South Africa and South East Asia.
IHG® currently operates hotels with Valor Hospitality Partners in America and the UK.
Pascal Gauvin, managing director: India, Middle East and Africa, IHG®, says, "Valor has been our long-term partner in America and the UK for many years, and we are pleased to be building our network with an experienced existing operating partner in new markets."
"This signing is in line with our growth ambition in the region and will add approximately 1 000 rooms to our portfolio in the African continent, primarily in the midscale segment and select hotels in upscale and luxury segments," Gauvin adds.
"This will allow us to cater to the increasing number of diverse domestic and international travellers looking for quality branded accommodation in Africa," he says. "We currently have 26 operating hotels across eight countries in Africa, and we are looking at expanding our presence further by close to 40%, in three to five years."
Graham Wood, managing director of Valor Hospitality Partners Africa, adds, "We are thrilled to further strengthen our partnership with a global hospitality leader such as IHG® and expand our portfolio in Africa with its well-established brands that are loved by travellers across the world."
"We have consistently benefitted from IHG®’s global distribution system in the Americas and the UK, best in class revenue management tools and its commitment to deliver commercial success in partnership with their owners. With the new brands IHG® has added in recent months, this agreement presents us with a unique opportunity to provide a range of high-quality branded accommodation options to suit the evolving needs of guests travelling to Africa," Wood concludes.
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