By Berhanu Fekade |
Mamo Kacha, a family-owned-and-run business named after Mamo Yenberberu, the renowned businessman in the logistics and export trade businesses, is collaborating with Collier International to develop two hotels which would be rated at 4.5 to five stars.
Yenberberu Mamo (Abbey), managing director of Mamo Kacha, told The Reporter that they are planning to build the first hotel on a 2,300 sq.m. plot that they had inherited from their late father. The plot is located close to the African Union headquarters and is currently owned by the company.
Abbey said that the UK-based Collier International has been hired to conduct feasibility studies which would be finalized in a couple of months. Collier International, apart from working on feasibility studies, is handling architectural designs and necessary details the star-rated hotels would require. Abbey recalls that the relationship his firm established with Collier International began after both parties attended the 2014 Africa Hotel Investment Forum (AHIF) here.
The construction of the hotel is expected to be finalized and operational in early 2018. According to Abbey, though it is too early to talk about the financial details of the project, the company is set to invest the required sum as the hospitality industry has become lucrative. At a location in Yeka sub-City, the family owns another property where they plan to erect a special boutique hotel which is also expected to be rated 4.5 to five stars. This hotel, according to Abbey, would most likely be run by giant hotel brands such as Hilton Worldwide or Sheraton Group.
The Mamo Kacha family is known for owning and running various businesses in Ethiopia and the US. Among others, 300 gas stations, cab services and real estates are some of the ventures the family is engaged in. Established 75 years ago, Mamo Kacha is also well known in Ethiopia. Abbey’s brother, Eyob (Joe) Mamo, is known as a gas station mogul in the US and is owner and CEO of privately held Capitol Petroleum Group, which controls 42 percent of Washington, DC’s, gas stations
The Africa Hotel investment Forum was hosted last year in Addis Ababa, bringing together some 520 industry players and big faces of the industry. The AHIF-2014 was successful in bringing about signings of six major hotel contract managements to be started here.
That same forum has been announced to be held again this year. The well-known UK-based event organizer, Bench Events, was officially launched on Tuesday that the 2015 forum is taking place from September 29 to October 2 here. Neway Berhanu, managing director of Calibra Hospitality Consultancy Company, which was instrumental to bring the much-echoed forum to the country, is also finalizing deals to open three international brand hotels here.
Neway told The Reporter that his company has been in contact with three global players to work together with local investors. However, Neway declined to mention the names of the brands and the local companies. In addition to Sunshine Construction, which is jointly working with Marriot, it is expected to open a five-star hotel around Mesqel Square in the foreseeable future.
The upcoming AHIF is expected to gather 650 delegates of whom some 200 are said to be local participants. During the launching press conference, Fistum Arega, director general of the Ethiopian Investment Commission (EIC), who also chairs the newly-established Ethiopian Tourism Organization, said that the government is considering reevaluating the incentives provided to the hotel and tourism sector. He said that access to land, finance, duty-free incentives will be revised soon.
Source: The Reporter