September 25, 2017, Owerri City, Imo State – African Capital Alliance today announced the opening of Protea Hotel by Marriott, Owerri Select in South-Eastern Nigeria. The 90-room hotel is the result of a partnership between African Capital Alliance and Kunoch Limited.
The hotel is located in Owerri city, the capital of Imo State, a state commonly referred to as the “Heartland” and regarded as the entertainment centre of Eastern Nigeria. It is also a producer of oil & natural gas, and home to a large number of oil and financial services offices.
Commenting on the opening of the hotel, Mr. Obi Nwogugu, Principal and Head of Real Estate at African Capital Alliance stated: “This new hotel is an important addition to the hotels we already own in the cities of Lagos and Benin in Nigeria, and Takoradi in Ghana. We are pleased to partner, yet again, with Protea Hotels by Marriott, which enjoys strong regional brand equity, now coupled with the global distribution of Marriott International.”
Mr. Volker Heiden, Vice President Protea Hotels by Marriott, Marriott International added: “The opening of Protea Hotel by Marriott, Owerri Select, illustrates our confidence in the potential of Nigeria and is in line with our commitment to grow in strategic secondary cities across the continent. The recent expansion of the city’s airport, will enhance its attractiveness as a destination, which we are confident will further drive business travel.”
ACA is currently investing out of its first real estate fund (CAPIC I), a $165 million private equity fund.
About Protea Hotels by Marriott
Protea Hotels by Marriott is the leading hospitality brand in Africa. It is one of the most widely recognized brands on the continent with over 90 hotels throughout South Africa and seven other African countries, including Zambia, Nigeria, Namibia, Ghana and Uganda amongst others.
About African Capital Alliance
African Capital Alliance (ACA) is a leading investment firm focused on Nigeria and the Sub-Saharan African region. Since its formation in 1997, ACA has attracted over $1 billion in aggregated capital commitments through four private equity funds and one real estate fund.
ACA has made more than 40 investments across a number of high-growth sectors, including oil and gas, power, TMT, financial services, FMCG and business services. It also has a history of successfully exiting investments and delivering strong returns to its investors.
ACA is currently investing out of its first real estate fund (CAPIC I), a $165 million private equity fund.