Louvre Hotels Group has signed a management agreement to convert the WaterFall Hotel in Addis Ababa, Ethiopia, to a Tulip Inn.
Current owner, M.S.A Oils, Seeds and Cereals Exporting, spent Br60 million (€1.8 million) to renovate the 90-room hotel and facilities before the transfer. The Tulip Inn, located in Olympia in the Kirkos District of the city, is expected to achieve a four-star rating.
The deal was negotiated by Ozzie Hospitality and Management Group on behalf of the property owner. Kumenger Teketel, MD at Ozzie says Louvre’s management at the hotel will commence in the next two to three months.
Louvre Hotels Group currently manages three hotels in Ethiopia.