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[Sep 2017] Rezene Ayalew Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

Intercontinental, Louvre Hotel Groups Venture to Ethiopia

Tsemex Hotels & Business Plc, the World Bank’s International Finance Corporation (IFC) and Intercontinental Hotels Group (IHG) are expected to sign agreements for a loan of 9.5 million dollars to introduce to Ethiopia an Intercontinental Hotels group brand called Crowne Plazza. The initiative is already facing a court battle over its name by Crown Hotel, an Ethiopian hotel that has already been in business in Addis Abeba for years.

However, the IHG website says that it has already signed a management agreement with Tsemex, on a

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