International Hotel Brands
Hospitality industry hype at the moment is centred on the arrival of international brands into Africa and South Africa. The Protea and Marriott deal is a huge vote of confidence for Africa as an emerging tourism market. Not only is Africa, and Sub-Saharan Africa in particular, on the radar of many large international groups, but it is also a rapidly increasing tourist trend market both in the corporate and leisure markets. South Africa was recently voted as one of the top five travel destinations for 2014.
The South African business sector, Cape Town in particular, has a short memory with regard to the oversupply of hotels and/or accommodation in our prime CBD locations – cast your mind back to over a year ago when we were not nearly so upbeat and most hoteliers were concerned about low occupancy rates.