6 February 2013

Kenya: Investment in Hotel Properties to Pick Up - Report

Kenya is among few African countries where hotel development activity will pick up in 2013, according to a new survey.

In the Annual Hotel Investment Outlook Report, Jones Lang LaSalle says it anticipates further investments in hotel properties in growing tourist destinations and business hubs including Ghana, Nigeria, Tanzania and Kenya.

"These markets are benefiting from growing foreign investments and hotel operators will be looking at establishing a presence in these emerging markets. Financing will be backed by the recent creation of African hotel funds with capital provided by African and international investors," the report reads.

Hotels and hospitality experts at the firm expect worldwide hotel deal volumes to reach $32 billion this year, "as increased transparency around the world gives way to a more globalised arena for investors."

Cross-border capital, which accounted for over 30 per cent of global hotel investments in the past year, is also expected to accelerate in 2013.

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