Hospitality Consulting Africa

Operator Selection West Africa
October 4, 2017
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The Importance of Hospitality Consulting to Hotel Development in Africa

 

The African hospitality market is complex when compared to other regions in the world. Many African cities lack the infrastructure that is taken for granted in more developed regions, with some cities having few examples of hotels with international standards against which new hotel investments can be benchmarked. Considering that most investors in the sector lack the necessary skills and experience to assess opportunities, and develop and operate a hotel, the services of specialist hospitality consulting firms can assist investors in navigating this multifaceted industry. Whether an experienced hotel investor or a new entrant to the hospitality market, consultants are able to provide objective views and opinions that can assist in driving projects of international standards, tailored towards market needs that are sustainable in the long term.

 

Most hospitality consulting firms offer a variety of services that usually includes market and financial feasibility studies, operator selection, finance raising, due diligence, asset management, and in some instances, brokerage services. The services are targeted towards new market entrants who need to be guided through the entire hotel development process starting with feasibility study and ending with asset management. However, established investors who seek to expand, rebrand, refinance, or sell their properties can also make use of a hospitality consultant. It is not investors alone who seek the services of these specialists. Operators who are considering entering new markets may also require market assessments that can assist them in shaping their hotel concept towards specific markets.

 

When selecting a hospitality consulting firm, extensive experience in hotel markets in Africa is a key requirement. All too often, inexperienced investors attempt to enter markets without assembling the right project team. This is why numerous hotel projects on the continent are either delayed or not realised, at great cost to the owner. A hospitality consulting firm has the knowledge and experience to guide the investor through the entire development process, whilst also providing informed recommendations for experienced architects, engineers, operators, project managers, and financiers, all of whom have a critical role to play in delivering the right product.

 

HTI Consulting is a hospitality consulting firm that has extensive experience across the African continent. Led by Wayne Troughton, the company has been operational for over 15 years. Our company has undertaken over 450 assignments in over 42 countries in Africa. Our clients include large international operators and third-party operators, as well as local, regional, and global investors seeking to capitalise on the opportunities available within the under-developed African market. We consist of a team that is able to provide global insights at a local level.