|The 90-room hotel, developed by African Capital Alliance, a leading investment firm, and Kunoch Limited, is located in Owerri city, the capital of Imo State|
|CAPE TOWN, South Africa, September 27, 2017/ — Protea Hotels by Marriott (www.Marriott.com), part of Marriott International, Inc. (NASDAQ: MAR), has announced the opening of Protea Hotel by Marriott, Owerri Select in South-Eastern Nigeria, a development, which further consolidates its presence in the country.
The 90-room hotel, developed by African Capital Alliance, a leading investment firm, and Kunoch Limited, is located in Owerri city, the capital of Imo State. Imo State is commonly referred to as the “Heartland” and is regarded as the entertainment capital of Eastern Nigeria. The state is also a producer of oil and natural gas and is home to a large number of regional oil and financial services offices.
Commenting on the opening of the hotel, Mr. Volker Heiden, Vice President Protea Hotels by Marriott, Marriott International said: “The opening of Protea Hotel by Marriott, Owerri Select, illustrates our confidence in the potential of Nigeria and is in line with our commitment to grow in strategic secondary cities across the continent. The recent expansion of the city’s airport, will give the city better accessibility, which we are confident will further drive business travel.”
Mr. Obiora Nwogugu, Principal and Head of Real Estate at African Capital Alliance added, “This new hotel is an important addition to the hotels we already own in the cities of Lagos and Benin in Nigeria, and Takoradi in Ghana. We are pleased to partner yet again with Protea Hotels by Marriott, which enjoys strong regional brand equity and awareness coupled with the global distribution of Marriott International.”
Described as ‘the continent of opportunity for the 21st century’, Africa continues to be an attractive investment proposition for many global corporates including the hotel industry. Marriott International, a leading hotel operator on the continent, currently operates over 140 hotels in 20 countries and is targeting a projected growth by 2022 of over 200 Hotels with more than 36,000 rooms across operating and pipeline hotels.
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