Africa -  Togo - Lome

For Lome, the last 12 months can be described as a period of hiccups.  From August 2017, anti-government protestors took to the streets of the capital city to call for constitutional change and the resignation of President Faure Gnassingbe, whose family has been in power for 50 years. The coalition opposition wants the government to honour the 1992 constitution that stipulates a limit of two five-year terms for the president and a two-round voting system. While President Faure Gnassingbé is expected to remain in power in 2018-19 (with the backing of security forces) and the short-term forecasts peg the country’s GDP growth at ~5%, this forecast is subject to many political risks.

In the hospitality space, the city’s premium conference facility, Hotel 2 Fevrier was de-flagged from its affiliation with Radisson Hotel Group. This maybe a huge loss to Lome that was looking to position itself as a convention destination. The property is rumored to be rebranded under different management later this year. The Ibis in Lome was also de-flagged in early 2018 following expiry of the contract with Accor and the government hotel is now being run as independent. Overall, the hotel market’s performance in 2017 declined to some extent and is likely to remain non-progressive in 2018 in light of the above events. Political risk aside, we expect there to be some growth in the market going forward with no new supply expected to enter the market in the short-to-medium term.

Exchange Rate:

Exchange Rate 2016 Exchange Rate 2017 Change 2016/2017 Exchange Rate 2018 Change 2017/2018
US$ 1 0 0
Togo - Lome 0.00167 0.00172 3.0% 0.00182 5.8%

Change In Value For Market:

Legend
Significant Value Increase: Greater than +10%
Moderate Value Increase: Between +3% and +10%
Stable Values: Between -3% and +3%
Moderate Value Decline: Between -3% and -10%
Significant Value Decline: Less than -10%

Togo - Lome RevPAR Change

Togo - Lome RevPAR

Year RevPAR
2015 52.09
2016 44.61
2017 42.70
2018 (f) 43.78
2019 (f) 46.65
2020 (f) 49.56

For more information, please contact:

Tim Smith, MRICS
[email protected]
  • +27 797 342296 (w)
Rishabh Thapar
[email protected]
  • +27 0 792790584 (m)
Laura Dutrieux
[email protected]