Sébastien Bazin, Chairman and CEO, AccorHotels.
Katara Hospitality, a hotel developer and operator based in Qatar, has partnered with travel and lifestyle group AccorHotels to create a fund dedicated to hospitality in various Sub-Saharan Africa.
The fund will amount to up to $500 million in equity, of which Katara Hospitality and AccorHotels will contribute up to $350 million and $150 million respectively over the next 5-7 years, with additional financing capacity reached through leverage and co-investments.
The fund will target green field and brownfield projects and conversions of existing hotels through acquisitions.
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