Accor is expanding its presence in Ethiopia after signing a management agreement to open a new property under its design-led economy brand, Ibis Styles.
In a move that ramps up its ambitious development plans in Sub-Saharan Africa, the Group has partnered with private conglomerate, Yuluch Elyano Trading plc, to operate the 150-key Ibis Styles Addis Ababa, its fifth upcoming property in the capital, with a scheduled opening date of 2023.
Conveniently situated in a secluded location just off the city’s main thoroughfare, Bole Road, 1km from Addis Ababa Bole International Airport and close to corporate institutions and embassies, the property will appeal to regional and international business travellers seeking stylish and affordable accommodation.
“Our partnership with Yuluch Elyano Trading provides Accor with an exciting opportunity to showcase the Ibis Styles brand in a market where demand for innovative budget hospitality concepts is being driven by the continent’s booming domestic travel sector,” said Mark Willis, CEO Middle East & Africa for Accor.
“The deal also marks another important step in our African development strategy, growing our Ethiopia pipeline to five properties strong, across a diverse range of targeted brands and strengthening our presence in a region we have earmarked for accelerated expansion.”
Mr. Goitom Girmay, Major Shareholder and CEO, Yuluch Elyano Trading plc, said: “Ethiopia is Africa’s fastest-growing economy, fuelled by significant investments in infrastructure and manufacturing, and visitor numbers to the capital are surging. This calls for high-quality accommodation operated by world-leading hospitality groups and our agreement with Accor to deliver a cutting-edge economy hotel brand in the dynamic capital aims to meet this market need.”
Ibis Styles Addis Ababa will offer 150 rooms, each featuring the brand’s signature Sweet BedTM by ibis concept, which is unrivalled in the economy sector, as well as an all-day dining venue, fitness centre and gym, meeting space options and a car park.
It is expected to become a destination for travellers and families who appreciate trendy boutique-style accommodation with creative and culturally relevant design, modern technology and home comforts.
The hotel will join Accor’s growing pipeline of properties in Addis Ababa under brands including MGallery, Mercure, Pullman and Mövenpick.
Ibis Styles has already proven a popular concept in other fast-growing African markets including Nairobi in Kenya and Accra in Ghana, with a total of seven properties in operation in the Middle East and Africa and seven more in the pipeline.
Accor’s Africa portfolio currently comprises 159 properties (25,389 keys) with another 58 hotels (13,413 keys) in its development pipeline, growing its presence to 25 diverse brands.