Angolan group AAA has ended its agreement with the Accor group to hand over management of 50 hotels in Angola under the Ibis brand to the French hotel chain, Angolan weekly newspaper Expansão reported.
The lack of foreign exchange and the country’s economic situation led to the withdrawal of Ibis hotels in early February, ending an agreement that had come about after French President François Hollande’s visit to Angola in 2015.
The five units currently managed by the French group will lose the Ibis brand and are renamed IU Hotel.
The lack of foreign exchange, in addition to having successively delayed the investments that were due to be completed in 2017, prevented the AAA group from meeting its contractual obligations to the French hotel group.
The partnership with the Accor Group covered the areas of management, operation, branding, reservations and marketing, with the AAA Group being the investor and owner of the hotels. (macauhub)