Katara Hospitality set to invest #500,000,000 Euros in Africa

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A leading organization in global hospitality business with its integrity intact in the hospitality space plans to have her signature hotels numbering about 50 – 60 hotels with over 10,000 room rated 4-stars and above in Sub-Saharan Africa. This was disclosed by the Chairman of the Board of Directors of the Katara Hospitality and a member of the Board of Qatar Tourism Council, Sheikh Nawaf Bin Jassim Bin Jabor Al-Thani. While making his presentation to a group of journalists from around the world, at the group’s headquarters in Doha, Sheikh Al-Thani stated that the organization is currently doing due diligence in Nigeria, Senegal, and Cameroon. Although details of these investors are still confidential, the investment will include acquisition of already existing facilities and also green projects which will be started from scratch.

Katara Hospitality has also recognized the opportunities in Africa and will invest convention centers which are more needed in strategic locations within the continent with the attention of the world being drawn to Africa and an increasing International summits and conferences which will continue to be hosted in Africa as the continent opens up to embrace transformation and development. Katara Hospitality has recognized these opportunities and is currently engaging with investors and governments in Africa so as to flourish with the continent.

The fund available for this investment is about 500 million which can go to 1 billion euros, depending on the opportunities. This investment decision is based on Katara Hospitality’s in the African Continent is a forward-looking opportunity into the very promising future of the continent. The choice of these three countries as the pilot countries is driven by her recognition of excellent investment opportunities which will both sustain the organization and also the collaterals of the hotels are expected to impact the economies of the host countries. 

During the roundtable chat with the Chairman of the Board of Director and some of the Senior Executives at the Headquarters of the organisation in Doha, the Chairman stressed that the world have recognized and come to terms with the truth that Africa is the last on for the world and as such, every country must strategically position itself to benefit from the wealth coming out of Africa to the world in. He expressed optimism in African youths who he described as enthusiastic, motivated,  and most importantly, well-educated. He believed with this spirit, Africa will do very well and the countries will greatly flourish with these investments economies.

Sheikh Nawaf bin Jabor Al-Thani went further to brief the delegates on the current Katara Hospitality flagship project recognized which is the “Katara Twin Towers.” The 221 meters high hotel with over 300 rooms represents the iconic symbol of the State of Qatar. The Hotel is expected to be in full operation by the start of 2022. The Katara Twin Tower alongside other Katara Hospitality facilities hopes to host guests who will attend the Qatar 2022 FIFA World Cup which has been described as the world’s largest event.

The Hotel is most likely not to have an equal in the next 10 years based on its aesthetics, architectural design, and excellent service delivery. The total cost of project is undisclosed but at completion, it is confidently believed that Katara Twin Towers will stand tall among the Best Hotels in the world with its integrity in the hospitality sector.

By Mayowa Jolayemi

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