Addis Ababa — MIDROC Investment Group has acquired the historic Wabi Shebele Hotel, marking a major investment in Ethiopia’s hospitality sector ahead of the country’s selection to host the 32nd United Nations Climate Change Conference (COP32).

Under the agreement, the hotel will undergo a comprehensive renovation and be repositioned as a Marriott Autograph Collection property, aligning it with international luxury hospitality standards while preserving its historical character. The upgraded hotel is expected to serve international delegates and visitors attending the global climate summit.

The acquisition agreement was signed by MIDROC Investment Group Chief Executive Officer Ato Jamal Ahmed and Prince Bedemariam Mekonnen, Board Secretary of Wabi Shebele Hotel Share Company.

Speaking at the signing ceremony, Ato Jamal Ahmed said MIDROC is committed to modernizing the hotel’s facilities and services to meet the highest global standards, while ensuring a comfortable and high-quality guest experience. He emphasized that the project reflects the group’s broader strategy to strengthen Ethiopia’s tourism and hospitality infrastructure.

Prince Bedemariam Mekonnen welcomed the acquisition, thanking MIDROC for its pledge to preserve Wabi Shebele Hotel’s legacy. He noted that the hotel, which has stood for more than six decades, holds deep historical and cultural significance for Addis Ababa and the country at large.

MIDROC described the investment as part of its long-term commitment to boosting national tourism revenue through the development of high-quality destinations. The group has been expanding its footprint in eco-tourism and hospitality, most recently inaugurating Denby Eco Lodge, another MIDROC-developed property that entered operation last week.

Architectural design and renovation works for the Wabi Shebele project will be led by ZIAS Architecture and Engineering, which described the redevelopment as a rare opportunity to restore one of Addis Ababa’s most iconic hotels while reintroducing it to the global hospitality market.

Once completed, the renovated Wabi Shebele Hotel is expected to combine contemporary luxury with storytelling that reflects its more than 60-year history—positioning it as both a flagship hotel for international events and a landmark destination within Ethiopia’s growing tourism sector.