Report by W Hospitality Group disclosed Ethiopia managed to attract 12 international hotel chain development projects which are scheduled for the year 2016.

The report noted upon completion the hotel projects will add a total of 2,460 rooms to Ethiopia’s hospitality market. This in return is expected to have a significant effect on the shortage of hotel rooms noticed during high level conferences held in the capital city.

According to the report, Africa is still attractive to investors for business, trade and capital investment. These factors are expected to increase demand for accommodation and hospitality production.

Among other reasons, the increase in Africa’s hotel development is mainly because of the strong economic growth in the sub-Saharan Africa, which continues to exceed North Africa.

Sub-Sharan Africa’s pipeline projects showed a 42.1 percent increase. “This is clear evidence that investors remain confident about the future of the hospitality industry on the continent” the report explained.

Source: Capital