Welcome to the MICE Africa daily read for MICE Professionals doing business in Africa.
In today’s topics:
- Mandarin Oriental reports strong 2024 revenue.
- Namibia’s Avis Dam set for revitalization.
- RwandAir launches an all-in-one booking platform.
Mandarin Oriental’s 2024 Revenue Soars: US$2.1 Billion in Combined Total
Mandarin Oriental closed 2024 with a strong financial performance, reporting a combined total revenue of US$2.1 billion, marking a 13% increase. The luxury hospitality group saw a 15% growth in hotel management fees, driven by solid demand and rising RevPAR across key markets. Despite this progress, underlying profit after tax stood at US$75 million, slightly below 2023 levels due to lower one-off residences branding fees. Their asset-light strategy continued with the sale of the Paris property for US$382 million, significantly reducing net debt from US$225 million to US$94 million.
The group reinforced its expansion plans, adding five new hotels and residences in 2025 and securing eight new management contracts, including properties in Paris, Amsterdam, Puerto Rico, and Suzhou. This brings their total managed hotel portfolio to 41, with ambitions to more than double that number by 2033. Investments in key markets, including redevelopment projects, position the brand for continued growth in the ultra-luxury sector.
Chairman Ben Keswick highlighted the company’s commitment to a brand-led, guest-centric strategy, emphasizing long-term value for shareholders and partners. A final dividend of US¢3.50 per share was recommended, bringing total dividends for 2024 to US¢5.00 per share. With a renewed leadership approach and a clear vision, Mandarin Oriental is poised for an accelerated growth trajectory in the coming decade.
Travel Insurance: Rising Risks Fuel Global Market Growth
The global travel insurance market is expanding fast, expected to grow from $23.6 billion in 2024 to $44.6 billion by 2032, with a strong annual growth rate of 9.50%. More people are traveling due to rising disposable incomes, increased corporate mobility, and greater awareness of travel risks like medical emergencies and trip cancellations. Many countries now require travel insurance for entry, further driving demand.
Convenience plays a key role in this growth. Digital platforms and mobile apps make it easier than ever to purchase travel insurance alongside flights and accommodations. Insurers are also investing in AI-driven solutions, streamlining claims processing, and offering personalized coverage. From single-trip plans to long-stay policies, options are diversifying to meet the needs of business travelers, tourists, and families alike.
Leading companies such as Allianz, AIG, AXA, and Zurich are shaping the market with innovations in coverage and customer experience. The future will see more pay-as-you-go models, blockchain-powered claims processing, and real-time digital support. As travel expands globally, insurance providers are adapting quickly to ensure travelers have the protection they need.
Revitalizing Namibia’s Tourism: A Public-Private Partnership
Avis Dam in Windhoek is set for a transformation, thanks to a public-private partnership between Gondwana Collection Namibia, Greenspace Namibia, and PSG Wealth Namibia. Their mission is to enhance this urban conservation space by improving environmental sustainability, enriching visitor experiences, and strengthening community connections. This collaboration ensures that Avis Dam remains both a beloved recreational area and a vital ecological asset.
Planned upgrades include better-marked trails for easier navigation, educational panels for deeper engagement, and a mobile app providing real-time updates on activities, trail conditions, and upcoming events. A digital platform will also simplify entrance fee payments, making access more convenient for visitors. Additionally, a state-of-the-art environmental information center will be built at the entrance, offering insights into Avis Dam’s biodiversity and conservation initiatives.
Greenspace Namibia will oversee daily operations, maintenance, and the long-term development of the site. Gondwana Collection Namibia and PSG Wealth Namibia will provide financial and strategic backing to ensure the project’s sustainability. This initiative highlights how public-private partnerships can drive conservation, boost local economies, and leave a meaningful legacy for future generations.
RwandAir Holidays: Your Easy Booking Platform for African Adventures
RwandAir has introduced RwandAir Holidays, a new booking platform designed to simplify African travel.
This all-in-one service allows travelers to book flights, hotels, airport transfers, and curated experiences in a single seamless process. It eliminates the hassle of managing multiple bookings across different websites, offering a more efficient way to plan leisure or business trips. Integrated directly into RwandAir’s website, the platform ensures ease of use and provides additional options like seat selection, baggage, and travel insurance.
Developed in partnership with HBX Group and OnlineTravel, RwandAir Holidays combines an extensive selection of accommodations with advanced booking technology. HBX Group contributes a wide range of quality hotels and experiences, while OnlineTravel powers the platform with round-the-clock customer support. This collaboration not only enhances convenience for travelers but also expands RwandAir’s service offerings.