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January 19, 2021

Kasada acquires Sub-Saharan African hotel portfolio from AccorInvest

Kasada Hospitality Fund (Kasada) has announced the acquisition of 1,602-keys Sub-Saharan African hotel portfolio from AccorInvest.

Kasada Hospitality Fund (Kasada) has announced the acquisition of 1,602-keys Sub-Saharan African hotel portfolio from AccorInvest.

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Financial details of the transaction have not been disclosed.

The deal is claimed to be one of the largest cross-border hospitality M&A transactions in Africa.

This transaction will see Kasada acquire eight fully operational hotels across three countries – Ivory Coast, Senegal and Cameroon.

The hotels are focussed on servicing intra-regional business travel in Africa.

While taking control of full ownership and management of the Sub-Saharan African hotel portfolio, Kasada claimed that it will implement new standards with regard to local management teams and environmental footprint.

Kasada managing partner and CEO Olivier Granet said: “This is an outstanding portfolio of hotels covering all market segments and fully aligned with Kasada’s strategy. We look forward to working with the fantastic teams running the portfolio and to help drive the growth of the hospitality sector in this promising region.

“As long-term investors we are committed to implementing new ESG and guest satisfaction standards across our portfolio to ensure the sector sustainably grows to match the expectations of our guests. We believe we can have a positive impact by providing much-needed capital at a critical time.”

The deal includes the Pullman, Novotel, Ibis Plateau and Ibis Marcory hotels in Abidjan, Ivory Coast; the Pullman, Novotel and Ibis hotels in Dakar, Senegal; and the Ibis hotel in Douala, Cameroon.

For the transaction, Lazard Freres, Ashurst, Dentons, Okan and KPMG have advised Kasada, while AccorInvest was advised by Jones Lang LaSalle, De Pardieu Brocas Maffei, Mazars and Ernst & Young.

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Free Report
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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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