INTERNATIONAL REPORT—InterContinental Hotels Group (IHG) has signed a master development agreement with Valor Hospitality Partners Africa to roll out multiple franchise hotels over the next 10 years, across IHG’s portfolio of brands in midscale, upscale and luxury segments.
The agreement will see IHG expand its presence in Sub-Saharan Africa, including key countries such as South Africa, Botswana, Mozambique, Mauritius, Ethiopia, Zambia and Kenya. The development adds to IHG’s growing pipeline in the Middle East.
Valor Hospitality Partners Africa is a subsidiary of Valor Hospitality Partners Global that manages and asset manages projects across America, the U.K., Middle East, South Africa and South East Asia. IHG currently operate hotels with Valor Hospitality Partners in the U.S. and the U.K.
“Valor has been our long-term partner in America and the U.K. for many years, and we are pleased to be building our network with an experienced existing operating partner in new markets,” said Pascal Gauvin, managing director of India, Middle East and Africa with IHG. “This signing is in line with our growth ambition in the region and will add approximately 1,000 rooms to our portfolio in the African continent, primarily in the midscale segment and select hotels in upscale and luxury segments. This will allow us to cater to the increasing number of diverse domestic and international travelers looking for quality branded accommodation in Africa.”
Graham Wood, managing director of Valor Hospitality Partners Africa, added: “We are thrilled to further strengthen our partnership with a global hospitality leader such as IHG and expand our portfolio in Africa with their well-established brands that are loved by travelers across the world. With the new brands IHG have added in recent months, this agreement presents us with a unique opportunity to provide a range of high-quality branded accommodation options to suit the evolving needs of guests traveling to Africa.”
IHG currently operates 26 hotels across eight countries in Africa. Gauvin said the company is looking to expand its presence further by close to 40% in 3-5 years.