The Quantum Global Investments Group announced, on January 10, that it has completed the largest « open market » hotel deal to date in sub-Saharan Africa. Through its investment fund QG Africa Hotel LP, located in Mauritius and relating to the acquisition of the Mövenpick Ambassador Hotel in Ghana, the transaction clearly shows that the hotel industry is booming in the sub-region, according to CEO Jean-Claude Bastos de Morais.
According to Jean-Claude Bastos de Morais, President of Quantum Global’s Group, the purchase of the Mövenpick Ambassador Hotel in Accra, one of the leading hotels in sub-Saharan Africa, clearly vindicates the importance of the investment fund and its growing portfolio: « The hotel industry in Africa reflects the vitality and attractiveness of key sites across the continent and we look forward to benefiting from these opportunities and creating added value for our investors. »
For many hotel operators in Ghana, this acquisition will boost the hotel group’s activities. « This complex is one of the links of the hotel industry in Ghana. Thus, this acquisition will boost their business. The hotel is already the top hotel in the country…» said Alhaji Abu Adams, Director of Collins Gate Hotel located in Nima in the capital of Ghana.
A fund focused on sub-Saharan Africa
This acquisition results from the financial booming of the Mövenpick Ambassador Hotel of the Kingdom Holding Company (KHC) Group in Ghana. According to Adrian Leuenberger, Director of Asset Management at Quantum Global, the Mövenpick Ambassador Hotel of Accra has experienced a striking growth through its first-class hotel facilities and « we are delighted with this acquisition and its very promising future. »
He also explained that Quantum Global Africa Hotel LP is a $ 500 million investment vehicle to capitalize on emerging opportunities in the tourism industry. « The Fund is a long-term direct investor in hotel projects throughout sub-Saharan Africa, both in existing and new facilities. Investment activities include construction, conversion, acquisition and the renovation of hotel projects. »
Direct investment in all sectors
Quantum Global Group is a group of international companies involved in private equity, investment management, wealth management, macroeconomic research and econometric modeling. Quantum Global’s capital investment manages a wide range of funds specializing in direct investment in Africa in the following areas: agriculture, health, hotels, infrastructure, mining and forestry, and a capital fund which has no link with the sector.
But, whatever the activities, the group has always made Africa its historical territory, as Jean-Claude Bastos de Morais reminds us: « I know I have just started a long journey with challenges to meet at each stage. I also know it will involve goals to be achieved, a passion and a vision. Africa is not just another business opportunity. Africa is our home. I want Quantum Global to play a vital role in building a viable Africa. »
This acquisition demonstrates how the growth in the hotel industry is proving very popular in sub-Saharan Africa. The number of hotel rooms has practically reached 64,000 in 365 hotels, which is 30% more than in 2015, according to new figures from the W. Hospitality Group Hotels’ survey in 2016, which is specializing in Consultancy services in the hotel, tourism and the leisure industries in Africa.
« The evidence from our network survey is clear: investors remain confident about the future of the hotel industry in the continent, » said Trevor Ward, Managing Director of W. Hospitality Group.