From The Washington Post

Marriott International on Thursday announced plans to purchase Protea Hospitality Holdings, a Cape Town-based hotel group with 116 properties. The deal would nearly double Marriott’s presence on the continent, making it the largest hotel company in Africa.

“Africa has significant untapped potential for travel and tourism, both as a destination and source of new global travelers,” Arne Sorenson, president and chief executive officer of Marriott International, said in a statement.

The Bethesda-based hotel giant said it had signed a letter of intent with Protrea, but did not disclose the terms of the proposed deal.

Marriott, which has beefed up its international presence in recent years, says the deal would give the company a leg up in Africa, where Protrea manages, franchises and leases hotels in seven contries, including Nigeria and Uganda.

-Written by Abha Bhattarai

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