Marriott to enter South Africa with $74M in new developments

Alex Kyriakidis, President and MD, Middle East and Africa, Marriott

Marriott International Inc. plans to develop a Johannesburg hotel and executive apartments at a cost of about 1 billion rand ($74 million), the U.S. hotelier’s first own-branded properties in South Africa.

The accommodation will open by February 2018, Bethesda, Maryland-based Marriott said in an e-mailed statement on Tuesday.

“Africa is important to Marriott International’s growth strategy because of its rapid economic growth, growing middle class and youth population, as well as the expansion of international flights onto the continent,” Alex Kyriakidis, president and managing director, Middle East and Africa, said in the statement. “With over 850 million people in sub-Saharan Africa, there are enormous opportunities there.”

Read more: Marriott to Enter South Africa With $74 Million New Developments – Bloomberg Business