IHG Signs Agreement With Valor Hospitality For Africa Expansion
InterContinental Hotels Group (IHG) has inked a master development agreement with Valor Hospitality Partners Africa for launching multiple franchise hotels over the next ten years. This deal will include properties across IHG’s portfolio of brands in the midscale, upscale and luxury segments.
With this agreement, IHG will expand its presence in sub-Saharan Africa, including key countries like South Africa, Botswana, Mozambique, Mauritius, Ethiopia, Zambia and Kenya.
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 and 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 1,000 rooms to our portfolio in the African continent, primarily in the midscale segment and select hotels in upscale and luxury segments. This will allow us to cater to the increasing number of diverse domestic and international travellers looking for quality branded accommodation in Africa,” he added.
Graham Wood, Managing Director of Valor Hospitality Partners Africa, stated, “We are thrilled to further strengthen our partnership with a global hospitality leader such as IHG and expand our portfolio in Africa with their well-established brands that are loved by travellers across the world. We have consistently benefitted from IHG’s global distribution system in the Americas and the UK, best in class revenue management tools, and their commitment to deliver commercial success in partnership with their owners.”