Ethiopia’s State Investment Firm Puts $55 Million Into New Hilton

Ethiopian Investment Holdings (EIH) is investing approximately 55 million US dollars to develop a 150-key Hilton Garden Inn and wellness facility within the existing Hilton Addis Ababa compound, expanding its hospitality portfolio as the capital prepares to host major international events.

The project is scheduled for completion in October 2027, weeks before the 32nd UN Climate Change Conference (COP32), which Addis Ababa is due to host in November 2027.

EIH has appointed Elmi Olindo Contractors as the design-and-build contractor, while ZIAS Architecture and Engineering will serve as the project consultant.

The development will expand accommodation capacity at a property already controlled by EIH through its subsidiary Development & Hotels Company (DHC), which owns the property occupied by Hilton Addis Ababa.

The existing Hilton Addis Ababa has 372 rooms, alongside restaurants and other food-and-beverage facilities, a gym, spa and conference facilities. The addition of 150 rooms would therefore significantly increase the accommodation capacity within the existing compound.

The new project forms part of EIH’s wider hospitality portfolio, which includes DHC, Ghion Hotels Enterprise, Genet Hotel Enterprise and Spa Service Enterprise.

EIH reported that its hospitality businesses generated 2.1 billion birr in revenue and 564.2 million birr in profit before tax in 2025. Hilton Addis Ababa was the largest contributor to the portfolio’s profit, followed by Ghion and Genet hotels.

The timing of the investment is closely linked to Addis Ababa’s role as an international diplomatic and business centre. The city hosts the headquarters of the African Union and the UN Economic Commission for Africa and is regularly used for major multilateral meetings and conferences.

Source: FSX Business News