Africa is the new frontier for tourism and development. The potential for growth is staggering for investors and stakeholders alike and there is no better time than now to invest into the continent. According to the WTTC the direct contribution of Travel & Tourism to GDP is expected to be USD76.5bn (4.0% of total GDP) in 2011, rising by 5.3% pa to USD129.1bn in 2021 (in constant 2011 prices). The total contribution of Travel & Tourism to GDP, including its wider economic impacts, is forecast to rise by 5.3% pa from USD171.0bn (9.0% of GDP) in 2011 to USD289.1bn by 2021.
For anyone involved at a senior level in the hotel & tourism industry, there are compelling reasons to prioritise investing in the African market. Economic growth across the continent is 6% – double that of many developed Western economies; air traffic is set to grow by over 8% and the hotel development pipeline is up by more than 40% over previous years. Whilst the opportunities abound, there are also challenges and AHIF will bring together the best brains in the business to figure out how to succeed in this environment.
Who Attends AHIF?
The Africa Hotel Investment Forum (AHIF) brings together both local and global players to share their expertise and discuss ‘best practice’ for hotel development while those on the ground address the challenges and opportunities unique to africa. Given the continent’s wide and varied nature, we will be hosting regional and country specific networking sessions to assist in connecting those attendees focused on doing business in the same location. At the same time AHIF will aim to develop a further understanding on how to do business across the whole of the continent. The purpose and design of this meeting is to increase investment within Africa and to understand the potential risk and rewards of what is a hugely varied product base. The high calibre of speakers are able to provide the necessary evaluation and industry insight to draw together the most important and relevant industry delegates.
HOTEL DEVELOPMENT CASE STUDIES – WHAT ARE THE KEYS TO GETTING IT RIGHT AND WHAT TO DO WHEN IT ALL GOES WRONG
Drawing on real case studies in Africa for proposed and actual developments. How do you avoid some of the common pitfalls? What do you do with an existing project that has gone wrong? How can you look at bringing down development costs so they are more in line with returns?
Mark Martinovic, CEO of Hotel Spec talks about the common challenges faced by hotel developers and how to navigate through all the technical detail and in-depth planning for a successful hotel development project in Africa. The key principles start with getting the operator on board as soon as possible, appointing the right consultants, coordination and planning. Local conditions play a role and all factors from political and economic stability will affect the cost and program of the development.