Protea Group to build hotel in Hoima –Uganda’s oil reach region
AS PART of its US$130m African expansion drive, the Protea Hospitality Group signed an agreement last week for the construction of another hotel in Uganda.
According to information published in the Uganda Tourist, the company, with its partners in the property sector, aims to build 10 hotels on the continent, making it the largest investor in new hotels in Africa this year.
“This is Africa’s time. Never before has the continent offered so much in terms of political stability and economic growth,” Protea Hospitality CEO Arthur Gillis said.
The hotel will be built in Hoima, which is in the centre of the Albertine Rift Valley oil exploration, extraction and processing region. Construction starts in the third quarter of this year, and is expected to take 24 months to complete.
Stuart Cook, MD of Protea Hotels Uganda, said the company’s rapid expansion into the country was largely being driven by business travel due to economic growth in Uganda.
According to Mr Gillis, the group hoped to expand “substantially” in Uganda in the next decade.
To date, the group has 3 properties in Uganda; Protea Hotel Kampala, Protea Hotel Entebbe and the latest in Mbale Town-Eastern Uganda. The additional hotel in Hoima, will boast the areas position in the hospitality industry as well as creating employment to residents. The region poses impressive growth following the discovery of oil over the past few years, which is expected to contribute substantially both to national development and job creation.
For more information about Protea Hotels in Uganda and around the globe, visit www.proteahotels.com