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The International Finance Corporation (IFC) is providing long-term financing to PLP Properties, a Ghanaian property investment and development company, for a 170-room Hampton by Hilton hotel in Accra.
Located near Accra International Airport, Hampton by Hilton Accra Airport is positioned to become Hilton’s first hotel to open in Ghana and one of the first Hampton by Hilton properties in West Africa. It will broaden the range of accommodation available to business and leisure travellers in a market where most internationally branded hotels serve the upscale segment.
IFC’s project disclosure lists the financing as a loan of up to $10 million. The hotel has a total project cost of $29 million, with the remaining $19 million funded through sponsor equity.
“Our vision goes beyond building a hotel,” said Jean-Louis Feghali, executive director of PLP Properties. “Hampton by Hilton Accra Airport will strengthen Accra’s hospitality offering, create jobs, support local suppliers, and serve business and leisure travellers. We value IFC’s support in helping us deliver the project in line with international sustainability standards.”
“Investment in quality, sustainable accommodation can strengthen Ghana’s tourism sector and support jobs across the wider economy,” said Nathalie Kouassi Akon, IFC division director for West Africa Gulf of Guinea. “IFC’s partnership with PLP Properties will expand Accra’s hospitality offering, strengthen demand for local goods and services, and promote more sustainable hotel development.”
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