World's fourth-largest hotelier AccorHotels to open 50 hotels in Angola by 2017

AccorHotels has sealed a deal with Angolan insurance and investment company AAA Activos to open 50 hotels in the country by 2017, the French company said, as part of its expansion in Africa.

The world’s fourth-largest hotelier has been expanding in emerging markets such as Africa to counter weaker growth in Europe, which accounts for 70 percent of its revenue.

A statement from Chairman and CEO Sebastien Bazin said the deal reached during French President Francois Hollande’s visit to Angola on Friday “testifies to AccorHotels’ ambition in Africa, where tourism is evolving rapidly”.

Read more: AccorHotels steps up Africa expansion with Angola deal | Reuters