Economic and financial crisis in Angola affects hotel sector
Source : macauhub
The economic and financial crisis in Angola over the last four years has led the hotel occupancy rate in 2018 to stand at just 25%, the managers of five-, four- and three-star units in Luanda have said.
Those managers, contacted on Monday by the Angop news agency, also said that the most optimistic forecasts point to a relative improvement in the occupancy rate by the end of this year, which could reach 45%.
Angola’s hotel network is mainly concentrated in the capital Luanda, which accounts for 60% of establishments, with 40% spread across the remaining 17 provinces of the country.
The secretary of the Angolan Association of Hotels and Resorts (AHRA), Ramiro Barreira, told the news agency that it was necessary to set prices that fit the purchasing power of the people, “so that we can increase the occupancy rates of the hotels, which in some provinces are between 5% and 15%.”
Official figures showed that Angola saw strong growth in the sector between 2009 and 2014, with revenues in excess of 45 billion kwanzas (US$ 24 million) and creating 223,000 jobs.