For a comprehensive review of the Africa market, click below:
HVS In-Depth Africa Hotel Valuation Index:
2021
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2016
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2015
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2014
Lusaka, has historically experienced weak and seasonal demand, driven mainly by the corporate segment and transit leisure tourists en route to the country’s tourist attractions. However, Zambia recorded its highest-ever tourist arrivals in 2024, reaching 2.1 million, supporting a rise in occupancy levels. Despite this, ADR remains among the lowest across African markets. While the market had previously faced oversupply, the exit of the Hilton Garden Inn in 2024, combined with recovering demand, has improved performance. The resulting increase in RevPAR, primarily driven by stronger occupancy, has contributed to a marginal 1% rise in value per key since 2019.
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.
For the Latest Information and Analysis on the Impact of COVID-19Click Here
If you’d like to speak to someone personally to review details of our most current analysis, please don’t hesitate to contact
us directly.
ADR, Demand, Occupancy, RevPAR, and Supply Projections:
|
|
| ADR Change
|
|
| Market Demand Change
|
|
| Hotel Occupancy Increase/Decrease
|
|
| RevPAR Change
|
0.0%
|
| Market Supply Growth
|
Change In Value For Market:
Legend
| Significant Value Increase:
|
Greater than +10%
|
| Moderate Value Increase:
|
Between +3% and +10%
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| Stable Values:
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Between -3% and +3%
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| Moderate Value Decline:
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Between -3% and -10%
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| Significant Value Decline:
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More than -10%
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Zambia - Lusaka RevPAR Change
Zambia - Lusaka RevPAR
| Year |
RevPAR |
| 2015 |
58.30
|
| 2016 |
63.60
|
| 2017 |
59.10
|
| 2018 |
60.40
|
| 2019 |
50.10
|
| 2020 |
50.70
|
| 2021 |
50.50
|
| 2022 |
|
| 2023 |
|
| 2024 |
|
| 2025 (f) |
|
