Real Estate
Marriot, Hilton Stoke High-End Africa Hotel and Resort Boom
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Africa is on track for a boom in high-end hotels and resorts, with top chains such as Marriot International Inc. and Hilton Worldwide Holdings Inc. backing new developments on the continent.
There are 104,444 rooms under construction, 13% more than a year earlier and the most in at least four years, a report by Lagos, Nigeria-based W Hospitality Group shows. High-end developments account for more than three-quarters of the pipeline, according to the study covering 54 countries.