IHG signs agreement with Valor Hospitality Partners Africa to expand presence in Africa
The hotel group continues growth momentum in the region and expands midscale, upscale and luxury brands segments in Sub-Saharan Africa
InterContinental Hotels Group (IHG) has signed a Master Development Agreement with 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 see IHG expand its presence in Sub-Saharan Africa, including key countries such as South Africa, Botswana, Mozambique, Mauritius, Ethiopia, Zambia and Kenya.
The development adds to IHG’s growing pipeline in the Middle East and Africa.
Valor Hospitality Partners Africa is a subsidiary of Valor Hospitality Partners Global that manages and asset manages projects across America, the UK, Middle East, South Africa and South East Asia. IHG currently operate hotels with Valor Hospitality Partners in the United States and the UK.
Speaking about the announcement, Pascal Gauvin, managing director, India, Middle East and Africa, IHG, said: “Valor has been our long-term partner in America and the UK for many years; we are pleased to be building our network with an experienced existing operating partner in new markets.
“This signing is in line with our growth ambition in the region and will add approximately 1000 rooms to our portfolio in the African continent, primarily in the midscale segment and select hotels in upscale and luxury segments,” he adds.
According to Gauvin, the hotel group is looking to expand its presence by almost 40%, in three to five years.