Nigeria has emerged as one of the world’s leading destinations for hotel investments, due to its growing economy, expanding middle class, and increasing demand for hospitality services.
Its strategic location as a gateway to West Africa and its vibrant cultural tourism sector make it attractive to international investors. Key cities like Lagos, Abuja, and Port Harcourt attract global hotel chains and operators.
Nigeria secured the second position in global hotel investment rankings, propelled by nine new hotel deals signed in 2023. Leading international hotel chains, including Hilton and Radisson, each with three deals, Marriott International with two, and Leva Hotels with one, have demonstrated growing confidence in Nigeria’s expanding hospitality sector. This surge in investments highlights the country’s potential as a key player in the global hotel industry.
According to a report published by W Hospitality Group, covers all 54 African countries, including North Africa (Morocco, Algeria, Tunisia, Libya, and Egypt), sub-Saharan Africa, and Indian Ocean islands (Seychelles, Mauritius, Comoros, and Madagascar).
Rank Country Hotels Rooms
1 Egypt 109 26,241 241
2 Nigeria 50 7,622 152
3 Morocco 52 7,169 138
4 Ethiopia 31 5,128 165
5 Cape Verde 16 5,056 316
6 Tunisia 18 4,121 229
7 Kenya 31 4,268 138
8 South Africa 22 3,427 156
9 Algeria 13 2,603 200
10 Ghana 19 2,568 135
Total – 361 68,203 189
It offers consistent, reliable, and comparable data on hotel development pipelines in Africa, capturing the activities of hotel chains already operating on the continent and those looking to enter for the first time.
The report that the hotel chains have signed deals in 41 African countries. West Africa takes the lead, with pipeline development activity in 14 of the 18 countries in the region.
Other countries at the top of the hotel development rankings include Morocco with 7,169 rooms, Ethiopia with 5,128 rooms, Cape Verde with 5,056 rooms, and Tunisia with 4,121 rooms.
Kenya, South Africa, Algeria, and Ghana round out the top 10 countries by the number of rooms in the pipeline.
These countries represent significant growth in Africa’s hotel development sector.
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