Nigeria will soon boast a new Rotana property. The Group recently announced its intent by signing of its first property in Nigeria under the brand Centro, in Lagos.
The 200 plus-key hotel and serviced apartments is launched in partnership with Topwide Ventures Limited.
Rotana’s debut in Nigeria is projected to be the fastest-growing hospitality market in Africa over the next five years with 22.6% compound annual gain. The Group has also expressed its strategic expansion plans in the African market with additions such as properties in Khartoum and Sharm El Sheikh.
Rotana is also currently developing a hotel apartment project in Kinshasa, a five-star hotel and serviced apartments in Tanzania which will be part of the landmark MNF Square mixed-use project in Dar es Salaam and a five-star hotel in Mauritania located within the Ribat Al Bahar project under Rotana’s “Rayhaan Hotels & Resorts by Rotana” brand. This is in addition to many other projects under discussion.
“Lagos has the highest average rates on hotel accommodation in Africa. Centro Lagos fills this major gap in the industry and heralds a potential paradigm shift in the city’s hospitality scene,” said Omer Kaddouri, president and CEO of Rotana. “Africa is a vastly underserved market with huge potential for growth, and Rotana is very keen to expand its pipeline in the continent. The African region will remain a focus market for Rotana in the years to come as we move towards our goal of operating 100 hotels by 2020.”
With the launch of the Centro, Rotana is expecting to benefit from the rising demand for affordable hotels in Lagos.