Quantcast
Rooms Hotels

Marriott Completes Protea Acquisition Doubling Its Presence in Middle East, Africa

Apr 01, 2014 11:00 am

Skift Take

Africa is set to become the next Asia with a developing tourism economy that is sure to attract more visitors and businesses in coming years. Marriott has positioned itself as an early mover and will likely continue its expansion from here.

— Samantha Shankman

Win a Food Tour For Two Through Charleston, SC

Free Report: The Megatrends Defining Travel in 2015

John Hickey-Fry  / Flickr

A standard room at the Protea Hotel Breakwater Lodge on the waterfront in Cape Town, South Africa. John Hickey-Fry / Flickr


Marriott has completed its acquisition of South Africa’s Protea Hospitality Group, securing a total of 10,148 rooms in seven African countries.

With the acquisition, Marriott International Inc. says it becomes the biggest hotel operator in Africa and the company has nearly doubled its presence in the Middle East and Africa to more than 160 hotels.

“We are incredibly well-positioned to continue growing in one of the fastest expanding economic markets in the world,” said Alex Kyriakidis, president and managing director of Marriott International’s Middle East and Africa region.

Protea CEO Arthur Gillis will become non-executive chairman, Africa Development for Marriott International.

Marriott doesn’t expect the Protea acquisition to have a material impact on its 2014 earnings. The company now runs or franchises more than 4,000 hotels in 79 countries.

The $200 million deal was first announced in January.

Copyright (2014) Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Tags: , ,

Next Up

More on Skift

US–UAE Business Council Tells U.S. Airlines to Compete More and Complain Less
Four Top Hotel CEOs Say How Brand Loyalty Has Changed
Americans Not Taking Vacations Are a $224 Billion Problem for Employers
Smart Strategies for Getting Started with User-Generated Content