Hyatt banks on Ethiopia’s allure for new hotel destination
Nairobi — Hyatt Hotels plans to open its first hotel in Ethiopia by the end of the year as it seeks to double its African portfolio to tap growing visits by both African and Chinese travelers. The property in Ethiopia’s capital, Addis Ababa, will be followed by Hyatt’s first hotels in Algeria and Senegal in early 2019 and in Kenya the year after, according to Kurt Straub, the company’s vice-president for the Middle East and Africa. Hyatt in October said it would invest an estimated $200m in new hotels on the continent. "Things are opening up in Ethiopia, it’s very exciting what’s going on there," Straub said in an interview in Kenya’s capital, Nairobi, referring to Ethiopia’s recent pledge to loosen control of the state-planned economy and invite more foreign investment. "It’s much easier now that it’s open, there’s a path." Hyatt will operate the Ethiopian hotel through a management contract with UK-based ASB Development, which already has business there, according to Straub. Hyatt...
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