AccorHotels and Katara Hospitality have partnered to invest
in hotels in Sub-Saharan Africa.
Accor and Katara said they will contribute $350 million and
$150 million, respectively, to an investment fund with a targeted capacity of
more than $1 billion.
Accor said it expects to develop some 40 hotels with about
9,000 rooms. The projects will span a broad range of brands, from economy to
luxury as well as residences.
Qatar-based Katara is a government-owned hotel owner,
developer and operator.