Egypt was ranked first in a survey about the African countries with the highest number of new hotel investments, according to a report.
The survey was conducted by W-Hospitality Group under the title 2023 Hotel Chain Development Pipeline Africa report.
The report recorded data from 45 international and regional hotel chains.
It also reported their pipeline activity for which they have signed deals in Africa.
The company also gathered data 54 countries in Africa, as well as some of the Indian Ocean islands.
The results show that Egypt is the leading country with the most hotel rooms under development followed by Nigeria.
“It’s interesting that whilst the top two countries, Egypt and Nigeria, are both facing serious economic challenges, all the same they are seeing considerable deal signing activity,” the group said during its 15th edition of its annual report.
The report showed that Egypt holds nearly 25,000 rooms in 103 hotels, more than three times the number of rooms available in Nigeria of 6,772 rooms in 42 hotels.
Morocco came in at number three followed by Ethiopia at number four, and Kenya at number five.
