10 most valuable publicly listed hotel brands in Africa

Across Africa, the hospitality industry has evolved into a powerful pillar of economic growth, driven by expanding tourism, rising intra-African travel, and the steady influx of global business activity. 

From the luxury resorts of Mauritius to safari lodges in Botswana and corporate hotels in Nigeria’s commercial centers, hospitality companies are helping shape how the world experiences the continent.

A growing number of these operators are publicly listed on African stock exchanges, offering investors exposure to one of the continent’s most dynamic service sectors. 

These listed hospitality firms raise capital to expand hotel portfolios, develop resorts, and partner with global brands such as Hilton, Marriott, and Accor, bringing international standards to local markets.

Their impact extends beyond tourism. Hotel groups employ thousands of workers, support local supply chains, and anchor conference tourism that attracts global business events to African cities. 

Several of these companies also control landmark properties that define their national tourism industries, from Nigeria’s Transcorp Hilton Abuja to Botswana’s luxury safari lodges and Morocco’s internationally branded hotels.

Together, the 10 hospitality brands highlighted below by Shore Africa represent a cross-section of Africa’s listed hospitality sector, spanning luxury resorts, eco-tourism operators, and business-focused hotel groups that are shaping the continent’s fast-growing tourism economy.

1. Transcorp Hotels Plc
Country: Nigeria
Valuation: N2.08 trillion ($1.52 billion)
Listed on the Nigerian Exchange, Transcorp Hotels Plc is Africa’s most valuable hospitality brand. In Nigeria, it is also the first in the sector to surpass a N1 trillion market capitalization. A subsidiary of Transnational Corporation Plc, it owns the iconic Transcorp Hilton Abuja, operated by Hilton Worldwide. The Elumelu family’s influence in Transcorp Hotels, through holdings by Tony Elumelu and his wife Awele Vivien Elumelu, Heirs Holdings, and affiliated entities, including HH Capital Limited, controls more than 35% of Transcorp Hotels Plc. Under Elumelu’s leadership, the hotel has undergone more than $120 million in renovations and capital upgrades, reinforcing its position as Nigeria’s leading luxury business hotel. The listed hospitality group also operates the Transcorp Centre event complex and the Aura by Transcorp booking platform. Strong revenue growth and rising dividends have made Transcorp Hotels one of the standout performers in Nigeria’s hospitality sector.

2. Southern Sun Limited
Country: South Africa
Valuation: R12.9 billion ($769.42 million)
Listed on the Johannesburg Stock Exchange, Southern Sun Limited is one of Africa’s largest hotel operators with a portfolio exceeding 90 properties. Founded by hotelier Sol Kerzner, the company built a reputation for upscale hospitality across Southern Africa. Its brands—Southern Sun, Garden Court, and SunSquare—serve both business and leisure travelers. Operating in South Africa, Zambia, Mozambique, Seychelles, and the UAE, Southern Sun remains a cornerstone of Africa’s publicly traded hospitality sector, offering investors exposure to one of the continent’s most established hotel portfolios.

3. Sun International
Country: South Africa
Valuation: R9.45 billion ($563.64 million)
Sun International, listed on the Johannesburg Stock Exchange, is widely known for its iconic Sun City Resort. The company combines luxury hotels, casinos, and entertainment complexes across Africa. Its properties attract both international tourists and regional travelers seeking integrated leisure experiences. Sun International’s blend of hospitality, gaming, and entertainment has positioned it as one of Africa’s most recognizable hospitality brands, with flagship destinations that rank among the continent’s most visited resorts.

4. Risma
Country: Morocco
Valuation: MAD4.31 billion ($458.94 million)
Listed on the Casablanca Stock Exchange, Risma is Morocco’s largest hotel investment and operating company. Founded in 1993 and led by CEO Mohammed Amine Echcherki, the company partners with global hospitality giant Accor. Its portfolio includes brands such as Sofitel, Pullman, Novotel, Mercure, and Ibis. Risma operates more than 30 hotels across cities including Casablanca, Rabat, and Marrakech, making it a dominant force in Morocco’s tourism and business hospitality sector.

5. Tsogo Sun Limited
Country: South Africa
Valuation: R7 billion ($417.51 million)
Listed on the Johannesburg Stock Exchange, Tsogo Sun is a major hospitality and gaming group in Southern Africa. The company operates a network of hotels, casinos, conference centers, and entertainment venues. With properties spread across major cities and tourist destinations, Tsogo Sun caters to corporate events, leisure travelers, and gaming enthusiasts. Its diversified hospitality portfolio has made it one of the largest listed tourism and leisure companies in Africa.

6. New Mauritius Hotels Limited
Country: Mauritius
Valuation: MUR7.2 billion ($154.12 million)
Listed on the Stock Exchange of Mauritius, New Mauritius Hotels Limited owns the prestigious Beachcomber Resorts & Hotels brand. The group operates luxury beachfront resorts that cater primarily to international travelers seeking premium Indian Ocean destinations. With properties located across Mauritius, the company plays a significant role in the island nation’s tourism-driven economy, attracting visitors from Europe, Asia, and the Middle East.

7. City Lodge Hotels Limited
Country: South Africa
Valuation: R2.51 billion ($149.71 million)
Listed on the Johannesburg Stock Exchange, City Lodge Hotels Limited focuses on affordable, mid-scale accommodation. Its brands, City Lodge, Town Lodge, and Road Lodge, serve travelers seeking reliable and cost-effective lodging. The group operates nearly 60 hotels across Southern Africa, including properties in South Africa, Namibia, Botswana, and Mozambique. By targeting the mid-market segment, City Lodge has built a strong niche among business travelers and domestic tourists, making it a key player in Africa’s listed hospitality sector.

8. Lux Island Resorts Limited
Country: Mauritius
Valuation: MUR6.4 billion ($136.92 million)
Lux Island Resorts Limited, listed on the Stock Exchange of Mauritius, specializes in luxury hospitality across the Indian Ocean. The company operates high-end resorts in destinations such as Mauritius, Maldives, and Réunion. Known for its contemporary design and experiential travel offerings, Lux caters to affluent global travelers. Its strategy focuses on premium service, sustainable tourism practices, and unique island experiences.

9. Chobe Holdings Limited
Country: Botswana
Valuation: BWP1.65 billion ($121.59 million)
Chobe Holdings Limited, listed on the Botswana Stock Exchange, focuses on eco-tourism and luxury safari experiences. The company operates lodges and river cruise operations along the Chobe River and in Namibia’s Zambezi region. Known for its conservation-oriented approach, Chobe Holdings attracts high-end travelers seeking wildlife experiences while promoting sustainable tourism.

10. Rainbow Tourism Group Limited
Country: Zimbabwe
Valuation: ZiG2.95 billion ($115.85 million)
Listed on the Zimbabwe Stock Exchange, Rainbow Tourism Group operates hotels, conference centers, and leisure facilities across Zimbabwe. The company focuses heavily on corporate events and meetings, positioning its properties as business and convention destinations. With assets in major cities and tourism areas, Rainbow Tourism Group supports Zimbabwe’s hospitality ecosystem while providing investors exposure to the country’s tourism recovery.