AFRICA – A new study released at the Africa Hotel Investment Forum (AHIF) by KEANE, forecasts that 700 new internationally branded hotel restaurants and bars will be opened in Africa by 2025.
The prediction is based on KEANE’s research into 410 F&B venues across the 100 internationally branded hotels in the major 10 cities in Africa and W Hospitality Group’s authoritative hotel development pipeline report.
“Over the last 70 years, the restaurant market internationally has been built on three factors; growing towns and cities, broad distribution of income and a growing middle class,” said Stefan Breg, Group Strategy Director of KEANE.
“When you take into account that the anticipated rate of urbanisation, expected across Africa, will outpace India and China in the next 25 years, Africa will become one of the world’s most vibrant dining scenes.”
Breg explained that Africa’s hotels could either follow the European/North American model or assume the Middle Eastern/Dubai model for F&B.
The European/North American model is comprised of 2-3 F&B venues per hotel with F&B playing a secondary role to the marketing of rooms.
The Middle Eastern/Dubai model on the other hand is characterised by four or more venues, a proportion of which, are operated in association with third parties; a scenario where F&B plays not only a strategic role but also a significant source of income.
The study noted that Hotel investors are becoming increasingly focussed on the performance of the F&B element of their businesses, ensuring that they cater to both hotel guests and local tastes.
In a panel discussion at AHIF decision makers for leading international hotels such as Hilton and Marriot international revealed that the hotels were carefully looking at the market to determine the right number of F&B concepts.
International hotels also revealed that promoting local talent and investing in sustainable development was a high priority to them.
The Africa Hotel Investment Forum (AHIF) is attended by the highest calibre international hotel investors in Africa.
It is the leading hotel investment conference that connects business leaders from the international and local markets, driving investment into tourism projects, infrastructure and hotel development across Africa.