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Katara Hospitality and AccorHotels to set up an investment fund dedicated to hospitality in Sub-Saharan African countries

Katara Hospitality, a leading global hotel owner, developer and operator, based in Qatar, and AccorHotels, a world-leading travel & lifestyle group and digital innovator with a presence in 100 countries and c.4,500 hotels, announced the creation of an investment fund with a targeted investment capacity of over USD 1bn dedicated to hospitality in various Sub-Saharan African countries. The fund will amount to up to USD 500 million in equity, of which Katara Hospitality and AccorHotels will contribute respectively up to USD 350 million and USD 150 million over the next 5-7 years, with additional financing capacity reached through leverage and co-investments. It will target greenfield projects, brownfield projects and conversions of existing hotels through acquisitions, in a region which offers robust growth opportunities. Approx...