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Addis Ababa has experienced high demand growth in the past decade and benefits from a diversified demand mix driven by diplomatic, NGO and corporate travellers, with the leisure segment growing off a low base. Demand growth outlook is strong with high domestic and regional economic growth set to increase the size of the corporate market alongside the diplomatic and NGO segments. The expanding network and fleet of Ethiopian Airlines will continue to improve the status of Addis Ababa as an aviation hub with further hotel demand a necessary spin off.
Addis Ababa has seen significant financial outlay into the hotel sector in recent years, with a number of successful local entrepreneurs investing in hotels. Hotel investment is primarily driven by local capital with limited international capital entering the market. Bank lending is available yet limited to a small number of local institutions.
Announced new quality hotel supply amounts to 3,081 rooms, a growth of 98% on the existing 3,130 quality hotel rooms provided by the top 31 hotels currently operational. JLL anticipates that 50% of this or 1,540 rooms will enter the market in the next five years.
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05 April 2016