IHG has signed a master development agreement with Cape Town-based 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 bring IHG's hotels to South Africa, Botswana, Mozambique, Mauritius, Ethiopia, Zambia and Kenya.
Valor Hospitality Partners Africa is a subsidiary of Valor Hospitality Partners Global, a company that manages and asset manages projects across America, the U.K., Middle East, South Africa and South East Asia. IHG currently operates hotels with Valor Hospitality Partners in America 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, India, Middle East and Africa, IHG. "This signing is in line with our growth ambition in the region and will add approximately 1,000 rooms to our portfolio [on] the African continent, primarily in the midscale segment and select hotels in upscale and luxury segments.”
The company currently has 26 open and operating hotels across eight countries in Africa, and is looking to expand its presence by another 40 percent over the coming five years.