Africa -  Togo - Lome

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HVS In-Depth Africa Hotel Valuation Index:   2021 | 2016 | 2015 | 2014

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.

The widespread impact of the coronavirus (COVID-19) has had an unprecedented impact on hotels and hotel values worldwide. Consequently, the latest HVI analysis may no longer reflect the most current measure of lodging industry strength or the hospitality investment market.

In each of our offices across the globe, we are working tirelessly to analyze the impact of recent events and provide timely insights to help you navigate these uncharted waters. Because it is unclear how long the pandemic will last or how long related restrictions will be in place, we are updating our analyses on a weekly basis using the most current data.

Additionally, examination of value trends in prior cycles can provide useful information. Historical patterns, together with an understanding of the market’s current expectations for the eventual recovery of the industry and its performance, can provide insights on the likely trajectory of decline and recovery for hotel values.

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For more information, please contact:

Rishabh Thapar, MRICS
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