Hotel management

Africa’s hospitality sector set to take off – Analysts

As the South African and wider African hotel market continues to recover from Covid-19; investment and development activity is expected to accelerate as the industry evolves after the biggest crisis in its history, comments industry expert Wayne Troughton, CEO of HTI Consulting.

“There are various themes and trends that are trending right now, especially as the industry rebounds and major players reposition themselves from a product, planning, funding, and development pipeline standpoint. “, he says.

Some of the most notable trends for him are how the operating and investing landscape has changed post-pandemic; how markets and products are adapting to these changes and what the recovery and forward bookings look like for the coming season, adds Troughton.

“One of the key questions we hope to answer is what the recovery and forward bookings look like now and for the upcoming season. HTI Consulting is conducting research with tour operators, travel agents and hoteliers, Results from these surveys will be presented at the Hospitality Forum and will be discussed in a panel discussion with key industry influencers and champions.

“As Covid-19 has changed the way we think and, to some extent, the way we work and travel, it is important to understand what new products have emerged and how existing brands have adapted to these changes, especially in the future,” he said.

Adding that Covid has also put significant pressure on cash flow, which has led to the restructuring of debt and equity structures, and could also lead to longer-term changes in the way projects are evaluated and funded in the future.

Troughton’s comments come ahead of the inaugural API Hospitality Forum on September 22 in Jo’burg (https://bit.ly/3er748T), which will provide insight into this rapidly changing and exciting industry to over 150 attendees by experts from industry leader, global hotel brands, funds, hotel owners and other value chain players.

Created in partnership with Africa’s premier real estate investment and development summit, the 400-person API Summit (September 21 & 22) and sponsored by Radisson Hotel Group & HTI Consulting, the API Hospitality Forum is an indispensable and credible platform for South African businesses and African hospitality leaders to come together and network with the wider real estate community, says Troughton.

“Over the past few years, a large portion of hospitality investors have migrated from other real estate asset classes, making it even more important to create that connection between the broader real estate community and the hospitality industry. The partnership with the API Summit also makes it more affordable, allowing the summit to attract an ever-growing audience that might have found other international hospitality conferences inaccessible in the past.

Troughton’s views are echoed by Daniel Trappler, Radisson Hotel Group’s Senior Director of Development for Sub-Saharan Africa.

“The API Hospitality Forum will bring together players, stakeholders and industry leaders to focus on the South African and wider African hospitality market. There’s no better time to get a glimpse of the recovery, investment activity and trends in these markets. This is a great opportunity for everyone to reconnect, network and participate in this inaugural hospitality forum opportunity.

For Trappler, the hospitality forum can play a strategic role in its efforts to continue its growth in what has been a banner year across the continent.

“The trend for Radisson Hotel Group in Africa in 2022 has been to focus on hotel openings and the group has had a record year in this regard. The recovery of the post-pandemic hospitality market remains something to understand (especially given the impact of inflation globally, particularly relevant here in the construction industry) and something to should be taken advantage of, as much as possible. As Africa’s largest international hotel brand, RHG has both the experience and the flexibility to achieve both,” he says.

With an enviable pipeline across the African continent, Trappler also highlights the major role hospitality plays in driving economic growth and also in providing meaningful and sustainable job creation.

“Hospitality is a key economic driver, job creator and central property type in the Southern and Sub-Saharan African regions. Currently, our hotel development pipeline in the Sub-Saharan region has an overall objective, including hotels in mixed-use schemes, serviced apartments and appropriately located self-contained products – ensuring that our developments meet market needs as we continue to cement our position as the most diverse hotel management company in the Africa in terms of the number of countries in which we operate.

For API Summit Host, Murray Anderson-Ogle, the addition of the API Hospitality Forum to his industry-leading gathering is a continuation of his strategy to drive development in the real estate sector in Africa , as he concludes.

“The API Summit is recognized as the industry’s largest annual gathering and in 2022, we are delighted to welcome over 400 attendees to this year’s event. Adding the Hospitality Forum API to our program is part of our strategy to create experiences that deliver meaningful benefits to our community of leading African and South African real estate players, as our community generates interest and increasing exposure to the sector.

Distributed by APO Group on behalf of API Summit.

About the Hospitality API Forum:
Held alongside the API Summit, Africa’s premier real estate gathering, the API Hospitality Forum will bring together industry leaders on September 22 to offer a fresh look at the South African and wider African hospitality market. Given the unprecedented changes of the past two years, the forum provides a platform for knowledge sharing and collaboration.

Sponsored by HTI Consulting and Radisson Hotel Group, the event will feature unique speakers from across the hospitality industry and connect investors, owners, funds, tour operators, hoteliers and more for one day. networking, content and negotiation.

The event is in person and delegates can register to attend here: https://bit.ly/3ATcdOA

This press release was issued by APO. Content is not vetted by the African Business editorial team and none of the content has been checked or validated by our editorial teams, proofreaders or fact checkers. The issuer is solely responsible for the content of this announcement.