Search ITRealms:

Featured post

Bode George calls for unity to address nation’s challenges - ITREALMS

ITREALMS :  Former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Olabode George, has called on Nigerians to see...

Monday, July 03, 2017

Room services grow amidst volatile economic climate

Room services have grown by 10.1 per cent in the last six months of 2017, says the PricewaterhouseCoopers (PwC) outlook, in spite of volatile economic climate in most African countries including Nigeria, reports ITRealms.

Nigeria, ITRealms gathered  is expected to be the fastest-growing market from a revenue perspective over the next five years with a projected 14.7 per cent.

PwC, ITRealms reports, featured information about hotel accommodation in South Africa, Nigeria, Mauritius, Kenya and Tanzania and even went further to look into Ghana and Ethiopia as emerging hotel markets.

PwC in its 7th edition of the ‘Hotels Outlook: 2017-2021’ made available to ITRealms, specifically projected that South African hotel room revenue will grow by 10.1 per cent in 2017 to R17.5 billion.

ITRealms reports that South Africa’s hospitality sector has been reported as poised for further growth in the next five years bolstered by inbound travelers amid a difficult and volatile economic climate.

Pietro Calicchio, Hospitality & Gaming Industry Leader for PwC Southern Africa, says: “Africa’s hotel sector has remained resilient in the face of strong economic headwinds.”
For instance, Pietro noted that overall hotel room revenue for South Africa is expected to expand at a 9.3 per cent compound annual rate to R24.8 billion in 2021 from R15.9 billion in 2016.

The outlook for 2017 is positive with an increase in the number of international visitors to South Africa expected. Domestic tourism is also anticipated to increase by 2.2 per cent in 2017.

“One of the positive outcomes for the hotel market in South Africa was the amendment of visa requirements that required foreign visitors from certain countries to provide biometric data in person. International visitor numbers to South Africa rebounded significantly in 2016 with a 12.8% increase as compared to the 6.8% decrease in 2015,” Calicchio said.

Visits from China and India increased in 2016 as a result of the relaxation in the visa requirements; travellers from China to South Africa increased by 38% and India recorded a 21.7 per cent increase. Of non-African countries, the UK is still the largest source of visitors to South Africa at 447 840 in 2016.

Of the African countries, the largest number of foreign visitors to South Africa in 2016 came from Zimbabwe at two million, followed by Lesotho at 1.8 million and Mozambique at 1.3 million. In addition, visits from East and Central Africa also rose by 11.2% in 2016.

It is promising to note a growing number of new hotels planned for the South African market over the next five years. The overall number of available rooms is expected to increase at a 0.9% compound annual rate, thereby adding 2700 rooms over this period.

ITRealms reports that Nigeria’s projected 14.7 per cent increase is a compound annual increase in revenue, benefiting from an improving economy, continued growth in domestic tourism, and expansion in the number of available rooms.

Whereas, South Africa is projected to be the next-fastest growing market with a 9.3 per cent compound annual increase in room revenue, most of which will be generated by rising average room rates and continued but moderating growth in tourism.

Ayo Midele/GEE
ITREALMS ... everything news digitally!


flourish loan said...

Do you need Personal Loan?
Business Cash Loan?
Unsecured Loan
Fast and Simple Loan?
Quick Application Process?
Approvals within 24-72 Hours?
No Hidden Fees Loan?
Funding in less than 1 Week?
Get unsecured working capital?
Contact Us At

*Commercial Loans.
*Personal Loans.
*Business Loans.
*Investments Loans.
*Development Loans.
*Acquisition Loans .
*Construction loans.
*Business Loans And many More:
Contact Us At;

Unknown said...

Your writing was very rational and creative. Churches too need creative loan schemes for solving the financially strange situation. So church mortgage in USA expert in an effective solution to this.

Anonymous said...

Are you looking for a business loan, personal loans, mortgages, car
loans, student loans, debt consolidation loans, unsecured loans, risk
capital, etc. ... You are in the right place
Your loan solutions! I am a private lender who lends
Individuals and businesses at a low interest rate and affordable
Interest rate of 3%. Contact us by email:

Your full name:
Loan Amount:
Monthly income:

Awaiting your swift response.
May Allah bless you.
power Financial Service Pvt.
Contact Us At
WhatsApp Number +919717357946

Unknown said...

Do You Seek Funds To Pay Off Credits and Debts? { } Is Here To Put A Stop To Your Financial Problems. We Offer All Kinds Of Loan (Personal Loan, Commercial Loan, etc.) We Give Out Loan With An Interest Rate Of 1.00%. Interested Applicants Should Contact Us Via Email:

Please Fill the Application Form Below:
- Complete Name:
- Loan Amount Needed:
- Loan Duration:
- Purpose Of Loan:
- City / Country:
- Telephone:
- How Did You Hear About Us:

If You Are Interested To Get A Loan Then Kindly Write Us With The Loan Requirement. Please, Contact Us via email:

URGENT LOAN OFFER WHATSAPP +918929509036 said...

Nigeria, Ghana Turkey, France and Israel.My name is Mrs.Ramirez Cecilia, I am from Philippines. Have you been looking for a loan?Do you need an urgent personal or business loan?contact Fast Legitimate Loan Approval he help me with a loan of $78.000 some days ago after been scammed of $19,000 from a woman claiming to be a loan lender from Nigeria but i thank God today that i got my loan worth $78.000.Feel free to contact the company for a genuine financial Email:(