MIDROC Group Completes Acquisition of Historic Wabe Shebelle Hotel

The Wabe Shebelle Hotel, Addis Abeba’s historic fixture, has entered a new chapter as ownership transfers to MIDROC Investment Group, marking the latest milestone in the Hotel’s storied journey. Initially erected in the late 1960s by Emperor Haile Selassie to generate income for his grandchildren, the property was nationalised during the Derg era and only returned to its royal heirs in the early 2010s. The landmark transaction was formalised today, January 21, 2026, through a sales agreement between MIDROC’s CEO Jemal Ahmed and Beedemariam Makonnen (Prince), the Hotel’s board secretary. At the signing, Beedemariam lauded MIDROC’s “vision of heritage and modernity,” acknowledging the Group’s pledge to maintain the Hotel’s historical character while ushering in a contemporary facelift. The Hotel, with close to 40,000Sqm plot, is now slated for an overhaul to bring it into compliance with the Autograph Collection standards under the Marriott International portfolio. The move signals MIDROC’s ambitions to reposition the Wabe Shebelle Hotel as a high-end hospitality asset capable of catering to international clientele. With Ethiopia gearing up to host the 32nd United Nations Climate Change Conference (COP32), the timing of the acquisition signals a strategic alignment with the desire to achieve international visibility and tourism capacity. Admin Says Your comment is awaiting moderation. This is a preview, your comment will be visible after it has been approved. Something is went wrong. Please try again Put your comments here N.B: A submit button will appear once you fill out all the required fields.