The First Group Hospitality, a Dubai-based asset-management firm, has signed a master development agreement with Addis Ababa-based MIDROC Investment Group to operate 10 hotels across Ethiopia.
In a news release, The First Group Hospitality executives said the move is part of its strategy to expand its third-party management system, with this deal marking its entry into Africa.
Representatives from both companies announced the deal at the Future Hospitality Summit Africa, which took place this week in Nairobi.
The 10 hotels, which will have a combined room count of 1,140, will be scattered around Ethiopia in “key urban and gateway destinations,” the news release said. These markets include not only capital Addis Ababa but also in such destinations as Bahir Dar, Hawassa, Jimma and Langano. The hotels will open in a phased approach, beginning with later this year through 2031.
David Thomson, First Group’s senior vice president of development, said the agreement will allow it to “establish a substantial footprint in [Ethiopia] alongside a partner with deep local expertise, while delivering high-performing assets and creating long-term value across key destinations.”
Solomon Zewdu Damtie, deputy CEO of MIDROC division MIDROC Hospitality, added Ethiopia has robust, long-term demand for both leisure and business.
“This partnership positions us to respond at scale,” he added.
Apart from one property in Saudi Arabia, The First Group Hospitality's hotel portfolio is all in Dubai, including the 1,004-room Ciel Dubai Marina, Vignette Collection by IHG, which opened in November 2025 as the world’s tallest hotel at 1,237. Dubai-based Immo Prestige Holding owns the 82-floor hotel.
First Group also has franchise agreements with other branded hotel firms such as Radisson Hotel Group and Wyndham Hotels & Resorts.
According to CoStar, MIDROC currently owns the 274-room Westin Addis Ababa, and 288-room Sheraton Addis Ababa, a Luxury Collection Hotel and the 135-room Blue Nile Resort Hotel beside Lake Tana. Following a renovation, the temporarily closed Blue Nile Resort is scheduled in 2027 to reopen as the Protea by Marriott Bahir Dar.
MIDROC also has interests in agriculture, manufacturing, retail, merchandising, events, construction and mining.