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Cameroonian millionaire businessman Samuel Foyou has launched a 16-billion-FCFA ($27.5 million) five-star hospitality outfit dubbed Krystal Palace in Cameroon’s economic capital, Douala.
The hotel — an extension of the billionaire’s Krystal Palace & Resorts Group — is the first five-star hotel in Douala and the second in all of Cameroon after the Hilton Hotel in Yaounde. It has 237 rooms and 10 suites.
Krystal Palace & Resorts Group is a luxurious hospitality institution owned by Foyou. It also owns the four-star Krystal Palace Beach hotel in South Africa.
Commenting on the development, the hospitality outfit said in a statement: “The Krystal Palace Douala brand is the result of the will of a family passionate about the luxury hotel industry, which, having noted a notorious absence of hotel establishments meeting international luxury hotel standards in Douala, made his dream of living his passion a reality by offering this quality product.”
The hotel was inaugurated on Dec. 17 at an event attended by Cameroonian Prime Minister Joseph Dion Ngute.
The launch coincides with the imminent commencement of the African Cup of Nations, which will be hosted by Cameroon and is billed to kick off on Jan. 9, 2022. It will run until Feb. 6, 2022.
The tournament will provide an opportunity for Foyou to recoup some of his initial investment in the newly launched five-star hotel.
Foyou has diversified business interests. He is founder of one of the largest breweries in Cameroun-Societe Brasserie Samuel Foyou and has interests in hospitality and industry.
His also owns Unalor, a match-manufacturing company, Plasticam, a plastics-recycling firm and confectionery and salt-manufacturing companies.
