Accor Hotels looking to open more than 30 hotels in Egypt over the next two years

INVESTMENT WATCH- Accor Hotels is planning to open more than 30 hotels in Egypt over the next two years as the country’s tourism industry recovers, MENA CEO Mark Willis told Bloomberg. “Egypt is resurrecting after 10 years of a tough situation,” Willis said. Egypt has passed Kenya to become the top choice for European tourists and investors with revenue per available Accor room having risen 20% y-o-y, he said. Accor aims to open 60 new hotels in 14 African countries over the next four years, with Nigeria, Ethiopia and South Africa also at the top of the company’s investment list.