Business

Rwanda moves into top ten in hotel investment

The Rwandan hotel investment market has improved strongly over the last eight years, according to the African Hotel Report 2017 by Hotel Partners Africa.

According to research to be released at Africa Hotel Investment, Rwanda has entered the top ten most valuable countries in Africa for hotels for the first time.

Serena Hotel (Photo courtesy)
In addition, with average growth in hotel values of 8.8 per cent over the last eight years, Rwanda experienced the sixth highest growth on the continent over that period.

“That values have increased in 2017 despite the large influx of new supply in the last two years is testament to the confidence that investors have in the stability of the government and the overall investment climate,” said David Harper, the report’s author for Hotel Partners Africa.

Rwanda is held out by many as a beacon across Africa for property investment.

With an ease of doing business rating of 67 (out of 189) from the World Bank and a property rights protection rating ranked at 28 (out of 145), investors have found the climate conducive to property deals.

The government’s concentration on providing infrastructure, reducing ‘red tape’ and stamping out corruption has all enabled foreign investors to feel confident in the country’s future.

Some four new branded hotels with 544 rooms are planned for Kigali.

This report shows that the hotel industry in Africa is still a very good investment, despite the cyclical nature of the property market.

The Express News

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