Marriott International is set to reinforce its commitment to Africa by eyeing the addition of 40 new properties and over 8,000 rooms across the continent by the end of 2023, driven by strong demand and steady growth for its premium and select-service brands, Invest-Gate reports.

“Marriott’s development pipeline through 2023 is estimated to drive investment of over USD 2 bn from property owners and is expected to generate over 12,000 new jobs in Africa,” read the company’s statement on September 23.

The hospitality company highlighted that key markets fueling its growth in Africa are notably Egypt, Morocco, South Africa, and Algeria.

In its statement, the company also announced the signing of agreements to open its first property in Cape Verde and the expansion of its presence in Ethiopia, Kenya, and Nigeria. Marriot, with three developments scheduled to open in 2022.

In 2023, meanwhile, Marriott will open the 130-suite Residence Inn by Marriott Lagos Victoria Island in Nigeria, the brand’s debut in the country. During the same year, it will also kick off the “W Hotels” brand to Africa with the inauguration of W Tangier in Morocco.

“Marriott also continues to see growth opportunities for its luxury brands and expects to double its luxury portfolio in Africa by year-end 2023, with more than 10 new openings across The Ritz-Carlton, St. Regis, Luxury Collection, and JW Marriott brands,” the statement added.

This comes on top of “eight anticipated openings and six slated openings under Protea Hotels by Marriott. The company is expected to introduce the Courtyard by Marriott, Residence Inn by Marriott, and Element Hotels brands,” it further stated.

Commenting on the news, President and Managing Director of Marriott International in the Middle East and Africa Alex Kyriakidis underlined, “Africa is a land of opportunity with untapped potential and remains core to our strategy.”

“The economic growth that the region is witnessing, along with the substantial emphasis countries across the continent are placing on the travel and tourism sector, present us with immense opportunities for growth,” Kyriakidis concluded.

Marriott International’s current portfolio in Africa embraces roughly 140 properties, with more than 24,000 rooms, across 14 brands and 20 nations.