Stay just a little bit longerEgypt is the top priority for the expansion of Radisson’s serviced apartment offer, Ramsay Rankoussi, vice-president for development in Africa and Turkey, tells The Africa Report. The company plans to more than double the number of its serviced apartments in Europe, the Middle East and Africa (EMEA) in the next five years. While hotels will remain Radisson’s core business, Rankoussi expects that serviced apartments will account for around 15% of Radisson’s business in Africa in five years, from a minimal share now. READ MORE South Africa’s level 1 will kick-start tourism recovery – Tsogo Sun CEOThe performance of serviced apartments is more correlated with residential property than with the hotels business, says Radisson’s Rankoussi. Bottom lineRadisson argues that serviced apartments are a good way to diversify post-COVID risks to the hotel business.

Source: The North Africa Journal December 21, 2020 09:56 UTC