Sovereign Hospitality Holdings to Develop Hotel Complex in Addis Ababa, Ethiopia with Accor Hospitality
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Sovereign Hospitality Holdings to Develop Hotel Complex in Addis Ababa, Ethiopia with Accor Hospitality
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Category: Africa Indian Ocean - Ethiopia - Industry economy -
Hotel projects
This is a press release selected by our editorial committee and published online for free on 2008-09-10
Sovereign Hospitality Holdings, the independent hospitality, tourism and real estate
investment company owned by the M.A. Kharafi Group of Kuwait, is pleased to announce
that it will develop two hotels in Addis Ababa, capital of Ethiopia which will be operated by
Accor Afrique. Sovereign Hospitality Holdings will invest in excess of US$35million in the
development which is due to open in 2010.
The two hotels will be developed in Meskel Square which is a prime site located in the heart
of Addis Ababa’s business district, only 10km from Bole International Airport. Visitors will
have the choice of a 118 room 4* Novotel Hotel and a 154 room 3* Ibis Hotel. This choice of
hospitality within the area is strategic in order to attract a wider spectrum of clients.
Both hotels will access amenities which are to be developed as part of the wider complex.
The amenities to service both hotels will include a number of restaurants and bars, banquet
facilities, swimming pool and health club.
Mohamed Fahmy, Chief Executive of Sovereign Hospitality Holdings commented:
“We are delighted to announce our plans to develop such a significant hospitality
project in Ethiopia. Ethiopia has experienced unprecedented economic growth in
recent years and the redevelopment of the airport and the increased airlift capacity in
Addis Ababa has heightened demand for hospitality in the capital. We look forward
to responding to this demand and progressing this important investment opportunity
alongside Accor Hospitality, a well known and respected brand within the hospitality
industry.”
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