Barrows Hotel Enterprises Announces $110M Hotel Consultancy Deal for Zambia
“Barrows will raise the funding from within its institutional network of hedge funds and pension funds. Both parties are focused on large-scale hotel developments in West and Central Africa,” said Chairman and CEO Erwin Jager. Both parties have signed a capital purchase agreement to realize this project with a total project value of US$110 million.
The estimated start of construction of this project is August 2023 and will be fully funded through the issuance of institutional medium-term bonds
The spaces are distributed over 12 floors and are located on a podium where the other facilities such as restaurant, meeting facilities, business center, wellness, sports facilities and a vertical farm will be realized. Parking will be in the basement. The estimated start of construction of this project is August 2023 and will be fully funded through the issuance of institutional medium-term bonds. The project offers a perfect long-term solution for chains like Kempinski, Fairmont, Marriott or Hilton.
Barrows has a strong order book valued at over $600 million. Barrows is responsible for major hotel developments, renovations, financial acquisitions and industry transformation projects. The excellent financial and operational results confirm the soundness of our company’s development project in line with the company’s 5-year guidance. “We continue to offer exciting opportunities and a strong commercial commitment to all of our projects in exciting locations,” said Chairman and CEO Erwin Jager.
Zambia offers its visitors beautiful sights such as botanical gardens, a wildlife and nature reserve and the Munda Wanga Environmental Park. Zambia also offers many opportunities for business travellers. The Zambian economy relies to a large extent on mining, particularly copper extraction. Although mining provides the highest returns, a large part of the Zambian workforce works in agriculture. The Zambian agricultural sector produces rice, peanuts, cotton and tobacco, among others, which contributes to a good trade relationship in the export market to many countries.
Barrows Hotel Enterprises manages over 10,000 hotel rooms internationally in more than 10 countries. Barrows specializes in the fast growing hospitality industry across the MENA region including West Africa.