Hotel occupancy rate in Luanda, Angola, drops to 35% in 2017

1 March 2018

The hotel occupancy rate in Luanda, the capital of Angola, fell by five percentage points to 35% in 2017, with the average daily rate in a three-star hotel hovering around US$200 and a five-star hotel around US$380, Angolan consultancy Proprime said.

The company also reported that the drop in hotel occupancy was mainly due to the departure of foreign nationals from Angola as a result of the economic crisis that began with the fall in oil prices. This crisis led to investment plans being frozen by various companies and foreign groups operating in the country.

Angolan weekly newspaper Expansão, which cites the report, said that business tourism contributes most to the occupancy rate of hotels in Luanda, and the decrease in occupancy last year reflects the drop in the arrival of business people at Angola’s borders.

Proprime is the result of the merger of two independent companies (Progest – Angola and Prime Yield – Portugal), which represent the total capital of the company, and was set up to respond to clients with interests in the real estate market, including real estate investors, institutional investors, real estate developers and financial institutions. (macauhub)