SUMMARY – THE AFRICAN HOSPITALITY INDUSTRY IS RECOVERING FROM THE COVID-19 PANDEMIC. THE SECTOR IS CRUCIAL FOR JOB CREATION AND ECONOMIC GROWTH. LUCKILY, THE STAKEHOLDERS ARE FOCUSING ON LOCAL TOURISM AND INNOVATION TO DRIVE FURTHER GROWTH.
The African hospitality industry is on the road to recovery after a tough year due to the Covid-19 pandemic. In 2021, hotel chains signed 447 transactions, adding 80,291 rooms to their development pipeline, according to a recent W Hospitality survey. This positive trend is expected to continue as investor confidence in the sector grows.
Key to Job Creation and Economic Growth
Wayne Troughton, CEO of HTI Consulting, emphasizes the hospitality industry’s critical role in job creation and economic growth. As the industry adapts to the post-pandemic landscape, it’s important to understand how markets and products are evolving. It’s also crucial to examine how recovery and forward bookings are shaping up for the upcoming season. Continued investment in the sector will support its growth and development.
To gain insight into the latest hospitality trends, HTI Consulting is conducting a study with tour operators, travel agencies, and hotel operators. At the Hospitality Conference, the research results will be presented and analyzed by prominent figures and advocates in the industry.
This forum provides an opportunity for stakeholders to network and share best practices, driving innovation and growth in the African Hospitality sector.
API Hospitality Forum: A Crucial Event for the Industry
The API Hospitality Forum is another important event for the African hospitality industry. Created in partnership with Africa’s major real estate development and investment summit, the 400-person API Summit, it offers a unique opportunity for African and South African hospitality leaders to connect with the broader real estate community and explore opportunities for collaboration and growth.
Partnering with the API Summit has made the event more accessible and affordable, enabling a wider audience to participate. The forum will feature discussions on the latest industry trends. It will include the impact of Covid-19 on the African Hospitality sector and the opportunities for growth and development in the coming years.
Finally, local tourism is a key area of focus for the African hospitality industry as it seeks to recover from the pandemic. Before the pandemic, domestic tourism accounted for 55% of the region’s travel and tourism spending in 2019. Rwanda and Kenya have taken steps to strengthen their domestic markets. Such as reducing admission prices to game reserves and parks to encourage more local tourists.
Experts suggest that there is significant potential for growth in the local market, particularly among middle-class African families and millennials. To capitalize on this opportunity, the industry should focus on developing authentic and environmentally friendly products that cater to local tastes and preferences.
In conclusion, the African hospitality industry is showing signs of recovery after a challenging year. Continued investment, innovation, and collaboration will be key to driving growth and development in the sector. The upcoming Hospitality Conference and API Hospitality Forum offer valuable opportunities for stakeholders to connect, share best practices, and explore new avenues for growth.