SA’s Protea Group hotel portfolio rises to over $100m on Ghana project

The hotel portfolio value of South Africa’s Protea Hospitality Group (PHG) is set to increase to over $100 million after the company breaks ground for a new project in Ghana.

According to PHG, it has just finalised an agreement entering the economically booming Ghanaian market, making it the ninth country in which the company will reinforce its dominance of the continent’s hotel industry.

Protea Hospitality Group CEO Arthur Gillis said “The development of Ghana’s 130-room Protea Hotel Select Takoradi, which opens in the south-west coastal city of Takoradi in early 2014, brings the current value of portfolio hotels developing across Africa to more than $100 million.”

According to Gillis, PHG has already developed a strong brand presence in Nigeria in recent years, but “we’ve been looking for just the right opportunity in Ghana for some time now and I’m delighted that we’ve finally found it in Protea Hotel Select Takoradi”.

Takoradi has beautiful beaches and the region in which it is located hosts Ghana’s oil industry.

By Ekow Quandzie