Friday, August 8, 2025
26.1 C
Lagos

Addis Ababa Leads Africa in Hotel Room Rates

Addis Ababa, Ethiopia, posted Africa’s highest average daily rate (ADR), according to the most recent 12-month data from STR. The market will play host to the Africa Hotel Investment Forum (AHIF) on 23-25 September at the Sheraton Addis.
From July 2018 through June 2019, Addis Ababa registered an absolute ADR of US$163.79 when measured in constant currency, which removes the effects of inflation. That figure was a 1.1% increase year over year. The next closest STR-defined markets in Africa were Accra Area, Ghana (US$160.34) and Lagos Area, Nigeria (US$132.51).
“Addis Ababa continues to maintain high ADR levels when compared internationally,” said Thomas Emanuel, a director for STR. “The city has multiple demand drivers, such as a growing economy, successful airline and its status as the diplomatic capital for Africa. Air connections and ease of access compared with other cities also factor in the equation for strong demand, which provides hoteliers with the confidence to maintain rate levels.
“With healthy performance comes interest in investment. The market’s pipeline is strong with 22 hotels and 4,820 rooms in active development. We will continue to monitor these new openings to see how the market reacts once these additional rooms open.

spot_img
spot_img

Hot this week

UBA Group Chair, Tony Elumelu, Seeks Critical Measures to Drive Africa’s Development

L-R: President, Central African Republic, Faustin-Archange Touadéra and Group...

148 Nigerians Win ₦23m in Stanbic IBTC’s Reward4Saving Season 4 Promo

Stanbic IBTC Bank has successfully enhanced the financial well-being...

NCC Hosts National Broadband Mapping System in Abuja

L-R: Project Manager, Africa-BroadBand (BB) Maps, International Telecommunication Union (ITU),...

Sterling Bank Names First Beneficiaries of ₦2B ‘Beyond Education’ Fund

Sterling Bank, Nigeria’s leading financial institution, has announced the...

Former CFI of NAICOM, Sunday Thomas, to Chair NAIPE 2025 Conference

The Nigerian Association of Insurance and Pension Editors (NAIPE)...

Topics

Sovereign Trust Insurance Takes Career Counselling to Igbobi College

L-R Oritselaju Ejuomah, Adeleye Abolade, Folusho Opeodu, Chioma Obiedo, Abigael...

Equities Market Suffers Dead Cat Bounce… NSE ASI Down 1.0%

The gain recorded in the Nigerian equities market yesterday,...

Sanofi Unveils 5 Winners of AfriTech 2020

Sanofi, a bio-pharmaceutical company, has announced five winners in...

Airlines Target 3.8bn Passengers, $2.4tr Revenue in 2O16

The International Air Transport Association (IATA) welcomed partnerships among...

Guild Caution Insurers on Patronage of Unregistered Marine Surveyors

L-R: General Secretary, Guild of Marine Surveyors, Festus Nwiue;...

Telecoms Investment in Nigeria now $75.6bn-Danbatta

L-R: Mustapha Isa, Former President, Nigerian Guild of Editors (NGE); Ochereome Nnanna, Chairman,...

Market Statistics: Thursday, 7th February 2019

Market Cap (N'bn)              ...

Heirs Insurance Group Donates Solar Power Station to Lagos Passport Office

From L-R: Wole Fayemi, MD/CEO, Heirs General Insurance, Mrs....
spot_img

Related Articles

Popular Categories

spot_imgspot_img