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Hospitality Outlook 2014-2018
Construction of hotel properties is on the rise in Kenya and is projected to increase the total number of available rooms from 17,500 currently to 19,400 by 2018, according to a report 'Hospitality outlook: 2014-2018'. It is published by PricewaterhouseCoopers and focuses on South Africa, Nigeria, Mauritius and Kenya.
Marriott plans a new hotel in Nairobi in 2015 and Hilton plans to open two hotels in Nairobi in the next few years. Radisson Blu, Park Inn and Lonrho Hotels are other international hotel brands planning to expand in Nairobi.
Nigeria will be the fastest-growing hotel market over the next five years with a projected 22.6 per cent compound annual gain, fuelled by increase in available rooms and large gains in stay unit nights attributed to a booming economy.
In South Africa, increased construction in the hospitality sector is expected to raise the number of hotel rooms to 20,873 in 2018 from 14,144 currently.