Marriott International has completed the acquisition of the rights to manage the Protea brand hotels in Namibia. The United Africa Group (UAG) owns all the ten hotel properties trading under the Protea brand in Namibia.
The acquisition of the Namibian management rights follows Marriott’s purchase last year of the Protea portfolio of management or franchise agreements in Africa at a cost of US$200 million.
Africa's future as a top travel destination and a key hub for hotel development will be a focal topic during the 2015 Africa Hotel Investment Forum, September 30-October 1 in Addis Ababa, Ethiopia. AHIF is attended by top international investors, and is the only annual hotel investment conference that connects business leaders from the international and local markets, driving investment into tourism projects, infrastructure and hotel development across Africa. For a full listing of speakers, panel sessions, registration and further information on the conference, visit www.africa-conference.com.
Marriott now manages or franchises the Protea Group and the African Pride brand throughout the continent, making the hotel group the largest operator of hotel rooms in Africa. The landmark deal gives the 52 million Marriott Reward Loyalty card members direct access to Protea facilities.
Marriott International owns 4,200 properties in 79 countries and territories. The company reported revenues of nearly US$14 billion during the 2014 financial year.
“For Marriott International this is a strategic acquisition because we believe in the future of Africa and the way that you build a presence is to acquire not only the brand but also the people,” Alex Kyriakidis, Marriott Middle East and Africa’s president and managing director, said in a statement.