Ask an international hotel investor where they are looking to deploy capital over the next five years and few would immediately point to sub-Saharan Africa. Yet 10 years ago, India was widely regarded as a long-term opportunity rather than a priority market. Today, it sits firmly on the agenda of every major hotel company and a growing pool of institutional investors. According to Jll, India's hospitality sector grew in 2025, with hotel investments reaching $567 million across 28 transactions a sizeable 67 per cent increase on 2024.
Could sub-Saharan Africa be following a similar trajectory?
The underlying growth story is becoming harder to ignore. According to W Hospitality Group's 2026 Hotel Chain Development Pipeline Report, Africa's hotel development pipeline reached 123,846 rooms across 675 hotels and resorts, up 18.6 per cent year-on-year. Sub-Saharan Africa accounted for 61,216 rooms across 391 projects, an 11 per cent increase on 2025, underlining the scale of international operator interest in the region. Nigeria, Kenya, Ethiopia and Cape Verde now rank among the largest pipeline markets south of the Sahara, while Marriott, Hilton, Accor, IHG and Radisson together account for around 80 per cent of pipeline rooms across the continent.
Investors are taking note. In May 2026, Shoreline Group and Accor signed a $300 million letter of intent to develop 10 hotels across eight Nigerian cities, creating one of the largest hospitality investment platforms in the country's history. Meanwhile, Hilton signed a record 29 deals across 15 African countries during 2025, underlining growing confidence in the region's long-term fundamentals.
Among the strongest believers in the opportunity is Kasada, the hospitality private equity platform launched in 2018 with backing from Qatar Investment Authority and Accor. The company has built a portfolio spanning markets from Senegal and Côte d'Ivoire to Kenya and South Africa, investing across business, resort and lifestyle segments. Kasada managing partner and co-CEO Olivier Granet argues that capital is available, but it comes from a different mix of investors than in more mature markets: successful entrepreneurs, infrastructure and telecoms groups, family offices, sovereign wealth funds and pension funds.
The opportunities are diverse. Across Eastern and Southern Africa, safari lodges and nature-based hospitality are benefiting from strong demand for experiential travel. Island destinations such as Cape Verde and Mauritius are also attracting increasing investor attention.
The challenge remains connectivity. Granet points out that domestic hotel demand in African markets remains low, making international and intra-African travel critical. Yet limited air connectivity and complex visa requirements continue to constrain growth. Addressing those barriers may prove just as important as attracting capital. If that happens, sub-Saharan Africa could move rapidly from "future opportunity" to one of the industry's most compelling investment frontiers.