Kinshasa Congo Hyatt Hotel
Accor has announced the signing of an agreement to build a new hotel in the capital of the Congo at the Africa Hotel Investment Forum (AHIF), which will take place in Ethiopia during the week of 23-25 September. The agreement marks Accor's first hotel development in Africa, benefiting from the growing demand for modern, first-class hotel concepts that meet the needs of the country's population of more than 1.5 million people. Accors "new Hyatt Hotel Kinshasa, the first of its kind, is located in one of Africa's most populous cities and the second largest city in the world, just a few kilometres from the city centre and a short drive from a number of other major hotels.
Accor already operates two other Hyatt hotels in Africa, one in Kinshasa and another to open in Buenos Aires, Argentina, in March. It opened in February and will be the first hotel in Latin America to open in Cancun, which is due to open in April, alongside the new hotel of the same name in the Dominican Republic, the first of its kind.
Kolwezi is a major mining centre for copper and cobalt, and the Democratic Republic of Congo has an estimated $24 trillion in untapped mineral reserves. More than 3,942 keys are routed to the region from countries such as South Africa, the United States, Canada, Australia, New Zealand, South Korea and China. In the US, Hyatt has hotels in New York, Los Angeles, San Francisco, Chicago, Washington, D.C. and New Jersey. D-Congo is the world's third largest copper producer, after China, and has one of Africa's largest gold reserves, estimated at $2.5 trillion.
The 75-storey tower is located in the heart of the city and offers an unparalleled 360-degree view of Dubai. Highlights include a full-service restaurant, bar and hair salon, as well as a spa and fitness centre.
For relaxation, the 69th-floor Ciel Spa features a state-of-the-art fitness centre, a full-service gym and gym, as well as a private pool and spa. A stunning pool deck overlooking Dubai's skyline and city skyline completes the impressive rooftop lifestyle offering. Many rooms and suites offer the possibility to decorate their floor-to-ceiling windows and balconies with breathtaking views. Guests are welcomed by a wide range of amenities including private pools, fitness centers, spa facilities and a gym.
The SLS Dubai joins the Kinshasa Hotel, which is the largest luxury hotel in the world with more than 2,000 rooms and suites and a spa.
About 85% of the revenue comes from real estate in the US, with the remaining 15% coming from international business. Hyatt Regency branded properties make up the majority of the total revenue of the 915 full-service and select hotels, followed by managed properties. Other managed and franchise properties accounted for about 50% of total sales, hotels owned and leased for 35% and administrative fees for no more than 10%. The 9 15 complete - and selected - service hotels comprise 410 managed properties owned by a third party, as well as 10,000 hotel rooms and suites and 1,500 hotel suites, and a total of 2,200 rooms, suites or suites in the 8,700 room managed hotel Kinshasa and the SLS Dubai.
Hyatt's revenue fell to a low of $4.26 billion in 2016 and fell slightly in 2017, before rising to $5.0 billion in 2019 and falling slightly again in 2018, reaching $3.9 billion, the lowest level since 2015. Net cash from operations in 2019 was $396 million (an increase of $55 million over 2018), and net income fell slightly year on year, rising from the low of 2015 but still below the $1.1 billion level of the previous year.
Revenue rose due to management, franchise and other fees, but Hyatt reported a decline in hotel revenue to $2.2 billion from $1.5 billion in 2017, the lowest level since 2015. In 2018, HyATT's net income fell slightly by $3 million to $766 million from the previous year. Hotel revenues owned or leased by the hotel and related transactions, as well as income from management and franchise fees.
The 120-room Novotel Lubumbashi, which is scheduled to open in December 2021, is under construction in Kinshasa. The triple contract with NovOTel builds on the recently signed agreement of the Group to manage two other hotels in the country, the Hyatt Regency Hotel Kigali and the Kibale Hotel.
The highly anticipated SLS Dubai has risen to the top of the global luxury hotel market, adding uniquely designed hotel rooms for elegant brand residents. The company's portfolio also includes branded apartments in London, New York, Paris and Dubai, as well as luxury hotels in the Middle East, Asia and Africa.
The company's full-service hotels operate under dozens of brands, including Hyatt Hotels & Resorts in the U.S., Canada, Australia, New Zealand, South Africa and the Caribbean. All-inclusive resorts are branded as Hyatts Ziva and HyATT Zilara, and spa brands Miraval and Exhale also operate hotels in New York, London, Paris, Dubai and Dubai.