Ghana’s capital, Accra, with over 400 hotels, has been ranked second in Africa as a place with the highest average daily rate (ADR), according to the most recent 12-month data from STR.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors.
They deliver data that is confidential, accurate and actionable, and comprehensive solutions that empower their clients to strategize and compete within their markets.
Addis Ababa, Ethiopia, posted Africa’s highest average daily rate (ADR).
From July 2018 through June 2019, Addis Ababa registered an absolute ADR of $163.79 when measured in constant currency, which removes the effects of inflation.
That figure was a 1.1% increase year over year. The next closest STR-defined markets in Africa were Accra Area, Ghana ($160.34) and Lagos Area, Nigeria ($132.51).
“Addis Ababa continues to maintain high ADR levels when compared internationally,” said Thomas Emanuel, a director for STR.
“The city has multiple demand drivers, such as a growing economy, successful airline and its status as the diplomatic capital for Africa. Air connections and ease of access compared with other cities also factor in the equation for strong demand, which provides hoteliers with the confidence to maintain rate levels.
“With healthy performance comes interest in investment. The market’s pipeline is strong with 22 hotels and 4,820 rooms in active development.”
Addis Ababa’s occupancy over the same 12-month time period was 58.4%, up 6.5% year over year.
Occupancy rate ranking
Cairo and Giza was the continent’s occupancy leader at 74.5%.
Cape Town Centre, South Africa at 65% ranked second in the metric followed by Accra Area with 59.7% on the third spot.
Meanwhile, the Addis Ababa market will play host to the Africa Hotel Investment Forum (AHIF) on 23 to 25 September 2019, at the Sheraton Addis in Ethiopia.
Mr Thomas Emanuel will present the latest hotel performance and development insights on the Tuesday (24 September) of AHIF.
“Hosting high-profile international meetings like AHIF is one factor that has helped Addis to maintain its position as the city with the most expensive hotel accommodation in Africa,” said Matthew Weihs, Managing Director, Bench Events (AHIF organiser).
“Our delegates will be looking carefully to see if the addition of a lot more high-quality accommodation and meeting space will depress room rates or help Addis become even more attractive as a destination.”
About the Africa Hotel Investment Forum (AHIF):
The Africa Hotel Investment Forum (AHIF) is the premier hotel investment conference in Africa, attracting many prominent international hotel owners, investors, financiers, management companies and their advisers.
The latest edition of AHIF is predicted to be the biggest event of its kind ever staged in Africa, generating millions of dollars for the local economy, and billions for the continent as a whole
Among the 600 and more attendees will be senior figures from the Marriott, Hilton, AccorHotels and Radisson hotel groups, while speakers include key influencers from the global hospitality investment industry.
Looking back over the history of AHIF since the first conference in Casablanca in 2011, the event has made a total impact on the local host economies of $21.24 million of which $8.64 million is direct and $12.6 is indirect.
In doing so, it has helped to create or sustain over 6,000 jobs and generate $1.4m in tax to the governments of the host countries.
Source: Prince Appiah | Luv FM