Despite gloom, SA hotel sector is poised to grow - report

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Cape Town (iStock)
Cape Town (iStock)

Cape Town - South Africa’s hospitality sector is poised for further growth in the next five years bolstered by inbound travellers amid a difficult and volatile economic climate, according to PwC’s 7th edition of the Hotels Outlook: 2017-2021.

“Africa’s hotel sector has remained resilient in the face of strong economic headwinds,” says Pietro Calicchio, hospitality and gaming industry leader for PwC Southern Africa.

The PwC outlook projects that South African hotel room revenue will grow by 10.1% in 2017 to R17.5bn. Overall hotel room revenue for South Africa is expected to expand at a 9.3% compound annual rate to R24.8bn in 2021 from R15.9bn in 2016.

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