Four Point Funder Sets Eyes on Investing in Safari Lodges
Uganda has become the focus of attention for potential investment in the hospitality industry, particularly in the form of safari lodges. EBS Equity Investment Group, the financier behind the Four Point by Sheraton, believes that investing in safari lodges will not only draw tourists but also build confidence among them.
EBS Equity Investment Group’s Vision
|EBS Equity Investment Group||Invest in safari lodges for tourists’ comfort|
During the launch of the Four Point by Sheraton in Kampala, Mr. Kaushik Manek, the chairman of EBS Equity Investment Group, emphasized the need for world-class lodging facilities where gorillas roam freely. He pointed out that Uganda lacks such accommodations, and it’s an area ripe for development.
“We would want to think of places like that to bring in tourists and make them comfortable,” he said.
The general manager of Four Point, Mr. Gauravv Magoo, echoed this sentiment, emphasizing that the hotel and hospitality sector in Uganda remains largely untapped. The country’s environment is well-suited for tourism development. However, Magoo highlighted that success in facilities like safari lodges hinges on government support through the establishment of the necessary infrastructure.
Potential for Uganda’s National Parks
|Uganda||Comparable potential to Masai Mara, Kenya|
Comparing Uganda’s national parks to Kenya’s renowned Masai Mara, Magoo sees similar untapped potential, provided the right infrastructure and facilities are in place.
Marriott, a globally recognized hotel chain group, which owns stakes in Sheraton Hotel and Protea, believes that investing in Uganda’s tourism industry holds immense promise. Despite the addition of new facilities, there remains a significant deficit in bed capacity, with the Uganda Tourism Board indicating only 11,858 beds available.
Uganda’s Bed Capacity
|Bed Capacity in Uganda||Current||Targeted|
Ms. Lilly Ajarova, the UTB chief executive officer, acknowledged that the recent addition of Four Points by Sheraton increased bed capacity to 28,142 in Kampala. However, the nation is still far from its goal of reaching 40,000 beds, which would position it as an ideal destination for international meetings, conferences, and exhibitions.
Ajarova also noted the positive impact of international hotel brands investing in Uganda. Tourists often choose their destinations based on the presence of familiar brands, which assures them of the quality of service they will receive.
Speaking at the same event, President Museveni expressed his support for investors who choose to invest in Uganda. He encouraged them to bring more investors to the country, particularly in the field of manufacturing.
President Museveni’s Call
|President Museveni’s Call|
|Attract more investors, especially in manufacturing and agro-processing.|
President Museveni emphasized the potential for agro-processing in Uganda, with a strong coffee production industry. However, he stressed the need for more value addition to their coffee exports, which currently leave the country unprocessed.