Swiss luxury hotel operator Kempinski is expanding its presence in Central Africa.
After Brazzaville, the group is set to operate a 214-room-and-suite hotel in Douala, Cameroon.
This is part of a hotel and real estate development valued at €339.4 million, or CFAF 222.62 billion.
Kempinski will operate a 214-room luxury hotel in Douala, but Cameroonian developer ALS Group is leading and financing the broader €339.4 million real estate project.
A groundbreaking ceremony for the Kempinski Shekinah Palace Douala Bonanjo was held on September 25, 2026.
Kempinski, however, is not the investor behind the project.
The development is being led by Cameroonian businessman Rodolphe Simo Kam, CEO of All Luxury Suites Group (ALS Group), which is developing the complex. Kempinski Hotels will operate the hotel.
According to the project’s financing plan, €140.7 million, or CFAF 92.3 billion, is to be raised through senior debt.
That represents 41.5 percent of the total cost.
The Development Bank of the Central African States (BDEAC), Afreximbank and BGFIBank are among the institutions involved in the financing.
BGFIBank Cameroon is also serving as arranger and financing agent, helping structure the bank financing, mobilize funding from financial institutions and coordinate the transaction.
The project documents, however, do not specify each lender’s final share or how much of the senior debt has already been disbursed.
More Than €157 Million in Equity
The financing plan also includes €157.5 million in equity from shareholders, equivalent to CFAF 103.32 billion.
An additional €41.2 million, or nearly CFAF 27 billion, is expected to come mainly from real estate sales and other funding sources.
The breakdown brings the total to €339.4 million, comprising €157.5 million in equity, €140.7 million in senior debt and €41.2 million from other sources.
Of the total, €268.9 million is allocated to capital expenditure.
Financing costs are estimated at €35.5 million, while about €35 million is earmarked for project development and land.
In Bonanjo, Douala’s administrative and business district, the hotel will account for only part of the development, which is planned across nearly two hectares.
In addition to its 214 rooms and suites, the project includes 35 serviced apartments, about 17,000 square meters of office space, a 2,000-seat conference hall, retail space, five restaurants, five bars, an art gallery and 600 parking spaces.
The project combines hospitality with office, residential, retail and event space. Revenue is expected not only from the hotel but also from offices, apartments, retail space, restaurants and events.
A Project in the Works Since 2019
The start of construction in September 2026 followed several years of project preparation. According to ALS Group’s timeline, initial studies began in June 2019.
Kempinski was selected as the hotel operator in August 2020. The building permit was obtained in December 2022.
In November 2025, ALS Group awarded the construction contract to China Machinery Engineering Corporation (CMEC).
ALS Group is targeting the luxury market with the development. “This project is part of the vision of a Cameroon recognized as a true ‘tourism gold mine,’ capable of designing and delivering infrastructure of excellence,” Simo Kam said at the project launch.
Construction is expected to take 36 months, including 31 months of building work and five months for equipment installation. ALS Group projects about 3,000 jobs during construction and 4,000 direct and indirect jobs once the complex is operational. At this stage, those figures are projections from the developer.
The Douala project expands Kempinski’s presence in Central Africa following the opening of its hotel in Brazzaville.
Kempinski will operate the hotel under its brand, while ALS Group and its partners remain responsible for the real estate investment and its financing.