Hotel management firm Sarovar Hotels has forayed into Ethiopia with signing of a hotel deal in the country's capital Addis Ababa as part of its overseas expansion plans.
Ethiopia entry marks Sarovar's presence in the fifth country in Africa after Tanzania, Kenya, South Sudan and Zambia, Sarovar Hotels said in a statement.
The hotel is owned by Meskerem Alemu Kebede, it added. The company, however, did not provide any financial details of the management contract it has signed.
Commenting on the development, Sarovar Hotels Pvt Ltd Executive Director Ajay K Bakaya said: "With Sarovar Premiere Addis Ababa, we exceed a total of 1,000 rooms in Africa".
The company sees great growth potential in this market with high demand and this development makes a momentous step in its growth and expansion strategy in the overseas market, he added.
The 101 keys hotel will be called Sarovar Premiere Addis Ababa.
Sarovar Hotels currently operates over 75 hotels in India and abroad with a key size of over 6,000 under the brands Sarovar Premiere, Sarovar Portico and Hometel.
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