AccorHotels Steps Up Africa Expansion

AccorHotels has sealed a deal with Angolan insurance and investment company AAA Activos to open 50 hotels in the country by 2017 as part of its expansion in Africa.

The world's fourth-largest hotelier has been expanding in emerging markets to counter weaker growth in Europe, which accounts for 70 percent of its revenue.

A statement from chief executive Sebastien Bazin said the deal reached during French President Francois Hollande's visit to Angola on Friday "testifies to AccorHotels' ambition in Africa, where tourism is evolving rapidly".

Accor plans to open 50 hotels in Angola, representing more than 6,200 rooms ranging from luxury to economy, over the next two years. Its Ibis Styles budget brand will operate 27 properties, with 22 to be run by the mid-market Mercure brand and one under the luxury Sofitel brand.

AccorHotels has been active in Africa for 40 years and is the continent's leading hotelier by number of rooms. The group operates in 18 African countries with more than 10,000 employees and 94 hotels.

The group is expanding its hotel offering this year to Cameroon, the Democratic Republic of Congo and the Ivory Coast. It also plans to open more than 30 new hotels in Sub-Saharan Africa before 2020.