HOTEL INDUSTRY IN ETHIOPIA

INTRODUCTION

The hotel industry is a branch of the hospitality sector that focuses on offering lodging services to clients. There are many different hotel kinds, and they may often be divided into groups based on size, purpose, service, and price.

Hospitality, Organisation, Tourism, Entertainment, and Lodging is the complete version of the acronym HOTEL. The hospitality sector, which includes hotels and resorts, is mentioned.

Restaurant Eating Services To All Under Righteousness And Nourishment is the full form of the word "RESTAURANT. "Within the service sector, there are many different industries that fall under the umbrella of the hospitality industry, including accommodation, food and beverage service, event organizing, theme parks, travel agencies, tourism, hotels, restaurants, and bars. 

MARKET DYNAMICS

Ethiopian Airlines, which operates flights to over no. of locations globally from Addis Ababa, is mostly to blame for the decline in international arrivals in Ethiopia. Given that the nation is home to nine world heritage sites and that the government has taken steps to enhance the investment climate, the tourist industry has enormous potential for expansion.

This involves easing visa regulations so that citizens and residents of the African Union can receive visas upon arrival. Following the pandemic, domestic tourism is probably going to return first, thus Ethiopia should focus on domestic and regional markets as a temporary fix to resurrect its tourism sector.

Major tourist spots across the nation have inadequate hotel infrastructure, therefore there are chances to build hotels and lodges there to draw both domestic and foreign tourists.

RECENT PARTNERSHIPS

With the help of this agreement, IT Hospitality will be able to expand the deployment and integration of technologies as part of their turnkey solution packages for hotel chains in East Africa including Accor, Hilton, Marriott, Radisson, and others.

The launch of the Addis office is a part of the growth ambitions to provide Pan-African service, deployment, and support to IT Hospitality partners and clients.

HOTEL INDUSTRY IN ETHIOPIA MARKET SIZE AND FORECAST

The Hotel Industry in Ethiopia accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.

NEW PRODUCT LAUNCH

Inauguration of the Ethiopian Skylight Hotel in Addis Ababa Grand Skylight Hotel, a well-known domestic hospitality brand in China, has successfully opened its flagship property in Addis Ababa, the East African region's busiest airport and home to the highly regarded Ethiopian Airlines.

This action strengthens Sino-Afro relations and demonstrates Grand Skylight's global footprint in Africa. It is also a positive step for China's Belt and Road Initiative.Among the over 3,000 attendees were high government officials from Ethiopia, diplomats, famous people from around the world, and members of the international media.

The hotel has a wonderful atmosphere. It is modern, bright, and opulently vast, suited for a genuine landmark development in continental Africa.Working with Ethiopian Airlines, a forerunner of the new African spirit, makes them very happy.

The Ethiopian Skylight Hotel is a historic establishment with the greatest number of rooms in the area, the most complete amenities, and the largest banquet floor area. The sky's the only limit as the future beckons,

The hotel is close to Addis Abeba's Bole International Airport. It is located on an area of around 40,000 square metres. It has 373 guest rooms, three restaurants and three lounge bars. It was constructed by AVIC Engineering Corporation as an EPC contractor.

The Grand Ballroom is Ethiopia's biggest ballroom and can accommodate 2,000 visitors all at once. The hotel features five different-sized function rooms, a fitness centre, an outdoor heated pool, a driving range for mini golf, a 600m2 exposition area, a boutique shop, a ticket office, and other services.

RECENT DEVELOPMENT

The hotel features 19 dining options, including Ethiopian, Italian, Arabian, and Asian restaurants, coffee shops, bars, recreational spaces, and locations for sips or hand-crafted cocktails with a panoramic view of the airport, in addition to meeting and event spaces that can accommodate small groups of up to 5000 people.

GetRooms is a platform that caters mostly to travelers with the intention of considerably boosting the hospitality and hotel sectors. It gives consumers the option to pick from a wide range of Ethiopia's hotels, guest houses, resorts, and other lodging options.

The platforms, which are accessible on both Android and iOS, provide consumers with thorough and accurate information. It provides a round-the-clock reservation service, boosts booking income for the Ethiopian travel and tourist sector, and enables alluring promotions. 

The other application platform isGetFee,a global invoicing platform that enables transactions and bill settlement from any global account at any location and time.Owners of hotels and other hospitality-related businesses can use this feature to manage bookings and transactions, local and international invoicing, inventory, user accounts, and hotel administration and reporting.

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many Hotel Industries are manufactured per annum in Ethiopia? Who are the sub-component suppliers in this region?
2. Cost breakup of a Ethiopia Hotel Industry and key vendor selection criteria
3. Where is the Hotel Industry manufactured? What is the average margin per unit?
4. Market share of Ethiopia Hotel Industry market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture Ethiopia Hotel Industry in-house
6. key predictions for next 5 years in Ethiopia Hotel Industry market
7. Average B-2-B Hotel Industry market price in all segments
8. Latest trends in Hotel Industry market, by every market segment
9. The market size (both volume and value) of the Hotel Industry market in 2023-2030 and every year in between?
10. Production breakup of Hotel Industry market, by suppliers and their OEM relationship