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Marriott Partners Sunshine Business to Expand in Africa

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Marriott International, Inc.MAR opened Africa's first Marriott Executive Apartments in Ethiopia, on Sep 30, in collaboration with Sunshine Business. The property offers fully serviced apartments with the comfort of residential living while traveling.

Located in downtown Addis Ababa, Ethiopia's capital city, the Marriott Executive Apartments Addis Ababa is close to Meskel Square in Bole as well as the UN-ECA headquarters and conference center. The property is well connected with the Bole International Airport, African Union headquarters and Ethiopian National Museum, a popular tourist destination. The location of the property is therefore likely to attract both business and leisure travelers.

The Marriott Executive Apartments Addis Ababa offers a choice between one and two-bedroom serviced apartments as well as the Penthouse Presidential Suite. Each apartment has a fully-equipped kitchen, free Wi-Fi, satellite TV, and services such as housekeeping, grocery shopping and room service. For business travelers, the property offers modern and well-equipped meeting rooms and event space.

With the opening of the first Marriott branded hotel in Sub-Saharan Africa, the hotelier is looking to tap the high demand for luxury apartments in the region. The brand currently has four properties in North Africa and, by 2020, the company plans to open 12 more across Africa.

Africa is an important international market for Marriott because of brisk economic improvement, rising discretionary income driven by the growing middle class and youth population. Additionally, there has been a significant development in tourism, a major revenue driver for many African nations. In fact, Africa has been among the key markets for hoteliers like Hyatt Hotels Corp. H and Starwood Hotels & Resorts Worldwide Inc. HOT .

Marriott presently has a Zacks Rank #3 (Hold). A better-ranked stock in the same industry is Red Lion Hotels Corporation RLH , which sports a Zacks Rank #1 (Strong Buy).

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STARWOOD HOTELS (HOT): Free Stock Analysis Report

MARRIOTT INTL-A (MAR): Free Stock Analysis Report

HYATT HOTELS CP (H): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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