(Bloomberg) – Hyatt Hotels Corp. plans to open its first hotel in Ethiopia by the end of the year as it seeks to double its African portfolio to tap growing visits by both African and Chinese travelers.
Hyatt will operate the Ethiopian hotel through a management contract with U.K.-based ASB Development Ltd., which already has business there, according to Kurt Straub, the company’s vice president for the Middle East and Africa. Hyatt is also looking into opening outlets in the Ethiopian cities of Awasa and Mekelle, he said.
“Things are opening up in Ethiopia, it’s very exciting what’s going on there,” Straub said in an interview in Kenya’s capital, Nairobi, referring to Ethiopia’s recent pledge to loosen control of the state-planned economy and invite more foreign investment. “It’s much easier now that it’s open, there’s a path.” […] CONTINUE READING