africa development Economy Tanzania Tourism Travel

Tanzania: Hyatt Regency hints hotel investment plan in Dodoma

Approximate reading time: 3 minutes

The luxury Tanzania hotel seeks to expand its reach to tap into upcoming business opportunities available.

 

Modern oasis at the heart of Tanzania’s largest city, Hyatt Regency Dar es Salaam, the Kilimanjaro is on the verge of constructing a new hotel facility in Dodoma, the country’s national capital. The plan is in line with the country’s aim of building more infrastructure to spur the business environment and attract more foreign investments. Undoubtedly, it will significantly impact the surrounding of the city.

The Kilimanjaro is looking to seize the business opportunities available at its disposal and is hopeful of a positive outcome in the long run. With the city’s economic status elevating, the hotel investment will have a market to serve. The hotel industry in the country is developing courtesy of the tourism sector.

According to Mr Denis Glibic, the Hotel’s Director of Sales and Marketing the new facility will offer quality hotel services. Its presence will also support businesses, especially on a local basis. He noted the demand on the market for the hotel industry which led to the hotel renovation plan that kicked off in 2017, adding more room to accommodate the market.

The growth of the travel and tourism sector has compelled market players in the industry to make custom changes to save their businesses, remain competitive and relevant. It employs 10 per cent of the labour workforce in the nation. It is the fastest growing sector in the country’s economy which promises better returns on investments to the potential entrepreneurs and investors.

According to a survey conducted by the Institute of Rural Development Planning, Dodoma, Tanzania in 2008, a total percentage of 16.3 per cent of 75.2 per cent interested in starting their businesses inclined to restaurants and guest housing. It signified the growth in the hotel industry and the potential of an untapped market.

Mr Glibic confirmed some competitors had fallen off the wagon as the business got competitive but Hyatt Regency remains standing. Most of the food supplied originates from the local farmers who have boosted their economic status from the facility. The agricultural sector is booming in the country and is gaining support from such demands.

826,275 ha of Dodoma Region is under cultivation accounting for 68 per cent utilised for agricultural use. Food crops such as maize, rice, bananas, sweet potatoes and cassava produced are for urban and local consumption. The agricultural products are in danger of sporadic rainfall as the region is a semi-arid area.

The hotel industry is leading the country’s foreign exchange earnings with better hotel management practices playing a role. The vast tourist attraction sites have lured tourists stretching the sector’s performance. The annual growth of the country’s economy is 7 per cent making it one the 20 fastest growing economies worldwide. Improvement of the business environment and infrastructure investments continue to drive the growth of the nation.

Source: The Exchange

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