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By Author
Published on October 17, 2023
Mark your calendars for the 2024 Africa Hotel Investment Forum (AHIF), the continent's premier tourism and hotel investment conference. Scheduled from June 25 to June 27, 2024, AHIF is set to take place in the beautiful nation of Namibia. This conference attracts prominent international hotel owners, investors, financiers, management companies, and their advisors.
The event will be hosted at Namibia's Mövenpick and Mercure hotels, both of which underwent a complete renovation after being acquired in 2021 by a fund managed by Kasada Capital Management. This fund is a leading independent real estate private equity platform dedicated to the hospitality industry in Africa, and their investment is set to bring a fresh perspective to the hospitality scene in Namibia. Consequently, AHIF will proudly showcase the relaunch of these revitalized properties.
Delegates attending AHIF in 2024 are in for an exceptional experience, combining business with a touch of adventure. The weekend leading up to the conference will include various inspection trips to explore Namibia's top hospitality investment projects and tourism attractions. These include awe-inspiring desert landscapes, thrilling adventure sports, and unforgettable safaris where you can spot endangered black and white rhinos, antelopes, cheetahs, elephants, giraffes, hippos, lions, ostriches, and zebras.
These trips will be more than just educational; they will provide valuable networking opportunities. Delegates from AviaDev, Africa's premier airline route development conference, will also participate. AviaDev is scheduled at the same venue the week before AHIF, making it a strategic opportunity for networking with professionals from both industries.
In the years leading up to the COVID-19 pandemic, Namibia's tourism sector experienced consistent growth. According to the Ministry of Environment, Forestry, and Tourism, visitor numbers grew by an impressive 5% annually, from just under 1.2 million in 2012 to 1.6 million in 2019. However, the pandemic dealt a severe blow to the country's tourism industry, with visitor arrivals dropping below 200,000 in 2020.
Nangula Uaandja, Chairperson and Chief Executive Officer of the Namibia Investment Promotion and Development Board (NIPDB), expressed their excitement about hosting AHIF in 2024. They stated, "Securing the bid to host AHIF 2024 is not just a win for Namibia, but also an affirmation of our national potential. We are delighted to welcome the international hospitality investment community to explore the untapped investment potential of our tourism industry. Namibia is a strikingly beautiful country, with picturesque landscapes that are guaranteed to charm at first sight."
Moreover, Namibia is fully committed to attracting foreign investments that stimulate economic activity and job creation. The government's commitment is evident through their progressive regulatory and policy frameworks, a robust legal system, seamless profit repatriation, and an independent judiciary that safeguards the rights of all investors.
Olivier Granet, Managing Partner and CEO of Kasada Capital Management, expressed his pride in partnering with The Bench on AHIF 2024. He looks forward to welcoming guests to the newly refurbished Mövenpick and Mercure hotels. The extensive refurbishment of these hotel complexes and conference center reflects their strategy of enhancing the hospitality sector in key African cities.
Matthew Weihs, Managing Director of The Bench, which organizes AHIF, shared his excitement about the upcoming event. He mentioned, "We are very excited that AHIF will, for the first time, go to a SADC country next year. Investing in Africa is all about uncovering and seizing new opportunities. To do that, one needs to expand one's horizons by going to different places, meeting new people, and exploring alternative scenarios. By scheduling AHIF and AviaDev on either side of a weekend in Windhoek and offering a selection of inspection trips for our delegates, we aim to do just that, along with providing unrivaled networking opportunities, a vital ingredient for any conference."
The Africa Hotel Investment Forum (AHIF) in Namibia promises not only insights into the hospitality investment sector but also unforgettable experiences exploring the natural grandeur of this stunning nation.
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By Nishang Narayan
Published on December 20, 2024
In a strategic move ahead of the January 1, 2025, demerger of its hotel business, ITC has increased its stakes in two major players in the Indian hospitality industry. ITC has raised its shareholding in EIH Ltd, the parent company of Oberoi Hotels, to 16.13%, and in HLV Ltd, which owns The Leela Mumbai, to 8.11%.
As of September 2024, ITC held a 13.69% stake in EIH. By acquiring an additional 2.44%, equivalent to 1,52,32,129 equity shares, ITC now commands a 16.13% stake in the company. Similarly, ITC’s stake in HLV Ltd has increased from 7.58% to 8.11%, following the purchase of 34,60,829 equity shares.
In a regulatory filing, ITC announced, “...the company today has acquired 2.44 percent of the share capital (comprising 1,52,32,129 equity shares of INR 2 each) of EIH Ltd and 0.53 percent of the share capital (comprising 34,60,829 equity shares of INR 2 each) of HLV Ltd, from Russell Credit Ltd, a wholly owned subsidiary of the company.”
This move is seen as a part of ITC’s preparation for the demerger of its hotel business, ITC Hotels, from its parent group. The demerger, set to take effect from January 1, 2025, is expected to unlock greater value for ITC’s stakeholders and enhance its focus on core operations.
With the increased stakes, ITC is cementing its presence in the premium and luxury hospitality segments, strengthening its relationship with iconic brands like Oberoi Hotels and The Leela Mumbai.
Published on November 27, 2024
Mark your calendars for November 29th and 30th, 2024, as FunkyTown, Bangkok’s culinary sensation, teams up with Muro, Bangalore, for two nights of bold, boundary-pushing flavors. Led by the talented team of Pae Ketumarn, Earth Pirwkram, and Theo from FunkyTown and Sarnies Thailand, the event promises an extraordinary menu of innovative small bites and cocktails exploring the depth of Thai cuisine with a unique "funk level" scale, ranging from mild to daringly intense.
Guests can indulge in creations like Scallop Crudo Tart, Beef Tartare Cone, and Duck & Apple Snail Tsukune, paired with signature drinks such as the Durian Colada, Mango Martini, and the adventurous Green Curry Cocktail. Each dish and drink combines creative flair, sustainability, and locally rooted ingredients to offer a one-of-a-kind sensory experience.
Whether you prefer subtle tastes or are ready for the ultimate funky adventure, this exclusive collaboration is a must-attend for food and cocktail enthusiasts. Limited seats available—book now for an unforgettable celebration of Thai-inspired innovation and artistry!
Published on November 25, 2024
What if you could savor the essence of Odisha—its coastal breeze, vibrant spices, and time-honored recipes—right here in Mumbai? Well here's your chance! At Courtyard by Marriott Mumbai International Airport's Momo Cafe, Chef Biswajit Moharathi, a MasterChef India Season 7 Top 25 contestant, invites you to embark on an unforgettable gastronomic adventure. This exclusive pop-up, running from 22nd November to 1st December 2024, brings the heart of Odisha's cuisine to the city that never stops craving new culinary experiences.
Chef Biswajit, a Bhubaneswar native and engineer-turned-culinary visionary, known for his ability to elevate Indian cuisine while staying true to its roots, invites you to explore the flavors of his homeland through a thoughtfully curated buffet that promises a symphony of taste, tradition, and innovation. "Odisha's food is about balancing flavours—earthy, tangy, spicy, and sweet. I'm excited to bring this experience to Mumbai, a city that appreciates bold flavors and culinary innovation," shares Chef Biswajit Moharathi
Indulge in a symphony of taste, as Chef Biswajit curates a delectable buffet showcasing the best of Odia cuisine. From the fiery spices to the delicate flavors, each dish is a testament to the region's rich culinary heritage. Start with the refreshing Mandia Guda Sherbet, a traditional Odian drink made from jaggery and roasted ragi. Move on to the savoury Dali Bara with Tamarind Dip, a popular Odia snack. For the main course, savour the rich and spicy Kankada Jhola, a crab curry, or the tender Chicken Kassa. Accompaniments such as Badi Chura, Ambula Rai, and the smoky Tomato Poda will make your journey to the eastern even more delightful. And to conclude your meal on a sweet note, indulge in the heavenly Manda Pitha, a steamed rice cake filled with coconut and jaggery or the crispy Malpua, and creamy Rabdi.
Indulge in a culinary journey that will transport you to the sun-kissed shores of Odisha. Book your table now and experience the magic of Odia cuisine!
Timings - 7pm to 11pm
Date – 22nd November- 1st December 2024
Address – CTS 215, Andheri - Kurla Rd, opposite Carnival Cinemas, Andheri East, Mumbai, Maharashtra 400059
About Marriott International
Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of approximately 9,000 properties across more than 30 leading brands in 141 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®️, its highly awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on X and Instagram.
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