(Business in Cameroon) - American brand Hyatt Regency Hotel plans to build a 5-star hotel in Yaoundé. For that purpose, the Cameroonian company Glenview SA signed a 35-year lease, binding it with the government on September 5, 2019.
Patrick Shey, head of Glenview, reveals that the Yaoundé Hyatt Regency hotel will require an investment of $150 million (close to XAF90 billion). It will be a 31-storey building with 300 high-standing rooms, 100 apartments for long stay, 9 conference rooms. The hotel whose construction period is 30 months will also have a heliport.
“Cameroon is providing a secured property tax base (…) on which the hotel can be built,” Henry Eyebe Ayissi, minister of land affairs indicates. The more than 1-hectare land is about hundred meters from Lac Municipal.
Patrick Shey also announced the future construction of a Hyatt Regency hotel in Kribi. Cost of the construction is XAF45 billion.