Valor Hospitality Partners, a global leader in full-service hospitality solutions, today announced the signing of two new hotel management contracts in Nigeria and Senegal representing an investment in excess of approximately R540 million in West Africa. The deals were signed at the Future Hospitality Summit (FHS) taking place in Cape Town this week.
The significant figure represents the combined capital expenditure for the development and establishment of the two new-build properties.
Both deals are franchise agreements with IHG Hotels & Resorts, one of the world’s leading hospitality companies. The agreements are to manage the new Holiday Inn SD City in Dakar, Senegal and a new Crowne Plaza hotel in Lagos, Nigeria.
Significantly, these signings are Valor’s debut in the very dynamic West African market, and join Valor’s portfolio in Central, East and Southern Africa, and further strengthen Valor’s relationship with IHG globally.
Across the two properties, Valor will be responsible for the successful opening and operational management of each hotel.
“The hospitality sector on the continent is teeming with opportunity, and represents an incredible frontier for the adoption of fully-integrated management services. These signings speak to this reality and we’re excited to further expand our footprint across Africa, not only for its market potential but for the value we can bring in enhancing the sector for all stakeholders – from owners and developers, right down to the guest experience,” says Michael Pownall, Co-Founder and Managing Partner at Valor Hospitality Partners.
Haitham Mattar, Managing Director, IMEA, IHG Hotels & Resorts, said: “Valor Hospitality is amongst our key strategic partners in the region and we’re pleased to further extend the partnership as we expand our footprint in high-potential African markets. We look forward to working with Valor in delivering world-class welcoming experiences for travellers, across our portfolio with them.
Pownall adds: “These new deals represent a significant entry into a new, key market – namely Senegal and Nigeria in West Africa. This expansion diversifies our regional presence and strengthens our market position.”
Thanks to the global insights and strategic thinking Valor brings to the industry, combined with their commitment to blending a big-picture view with regional and cultural nuances, Valor is cementing its position as a preferred partner to significant players in the hospitality sector across Africa.
