Africa’s long road ahead

Author: Philippe Baretaud

Categories: Africa, Investment
Tags: development
Philippe Baretaud: "So some countries and most of the time with natural resources, rich in natural resources are expanding.  But you look at the hotel development map from big chains and it’s most of the time on the main capital city, big hubs, and not...the country, because once again the difficulty to attract tourism, except if you take Tanzania, Zanzibar, Kenya or somewhere.  But otherwise it’s really somewhere where yes, Africa is speeding up its development.  Africa has a great potential.  But still coming from behind and having to catch up, and also some disappointments so far, with for instance, the growth in South Africa which hasn’t met its targets, and then constitute, I would say, a drawback and make all African growth lagging behind.  And even if it’s taken over by Nigeria very fortunately, so you see some imbalances and also the fact that there is a great deal of long road to go, I will say.  But we are strong about Africa.  We are first hotel operator in Africa including North Africa.  And we have at the present time 114 hotels, 17,000 rooms open and 5,000 rooms in the pipe with 30 hotels.  Last year only in 2012 we opened 12 hotels and close to 3,000 rooms."
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