Valor Hospitality Partners, a hotel acquisition, development, management and asset management company, has entered into a joint venture with real estate asset manager, investor and operator Yamed Group to create Valor Hospitality North and West Africa (NWA). This joint venture highlights the pairs’ ambition to be the leader in hotel investment and management through Morocco, Tunisia, Egypt, Senegal and Ivory Coast, according to the companies.
The new partnership utilizes Valor Hospitality Partners’ industry experience from managing more than 80 global hotel assets throughout the Americas, Europe, Sub-Saharan region of Africa and the Middle East, as well as Yamed Group’s experience in the investment and real estate services business and its knowledge of the Moroccan and regional market.
“We are thrilled to bring our expertise to the North and West Africa region in combination with the Yamed Group,” said Euan McGlashan, CEO/cofounder, Valor Hospitality. “They are the ideal partner for Valor because they share our lofty goal to become the market leader in hospitality operations and management in Morocco and overall region. Third-party management may be new to the region, but by working with our new partners at Yamed Group, Valor is up for the challenge to reimagine hospitality in North and West Africa.”
This strategic partnership allows international hotel brands to have a commercially attractive alternative to the traditional direct management structure, allowing them to have rapid development in new destinations, including franchise agreements, both faster to negotiate and close, and low capital with a low level of risk. Valor Hospitality will also operate independent hotels where owners are applicable.
“As Morocco is one of the continent’s leading tourist destinations, we are so excited about the massive opportunity to partner with Valor Hospitality to create Valor Hospitality NWA and bring total restructure to how hotel brands and owners alike operate in the region,” said Karim Beqqali, CEO/founder, Yamed Group.
For more on Valor Hospitality Partners and their global growth and company philosophy, check out our story in the September 15th issue of Hotel Business.