Nico Holdings says construction of its new Protea Hotel Lilongwe Ryalls at the Lilongwe Golf Club is progressing steadily, with the 60-million-dollar project now expected to be completed in February 2026.

The company says the investment will significantly boost Malawi’s tourism and hospitality sector at a time when the country is seeking new avenues for economic growth.

Chief Executive Officer Vizenge Kumwenda confirmed that the project has missed its initial 2025 completion target due to Malawi’s persistent foreign exchange shortages, which affected the importation of key construction materials and equipment.

“We have faced delays largely because of the forex challenges the country is going through,” Kumwenda said. “However, we have now devised our own strategies to source the required foreign currency, and construction is progressing well.”

Kumwenda revealed that the hotel will be operated under the Protea Hotels by Marriott brand, one of Africa’s leading hospitality chains. Through the management agreement, Marriott International will handle day-to-day operations, staffing, service quality, and adherence to global brand standards.

“We chose Protea Hotels by Marriott because of their strong global reputation and operational excellence,” he said. “Their involvement guarantees that this facility will meet international expectations and appeal to both domestic and international travellers.”

The Protea Hotel Lilongwe Ryalls is part of Nico Holdings’ broader strategy to strengthen its presence in the hospitality industry while supporting Malawi’s push to attract high-value tourists and business travellers.

Kumwenda said the hotel will help ease pressure on Lilongwe’s accommodation capacity and stimulate growth in related sectors such as transport, food production, entertainment, and events management.

“Once operational, the hotel will create jobs, enhance tourism offerings, and support the wider economy,” he said.

Prominent business tycoon Eleliano Banda has welcomed the development, describing it as a strategic private-sector investment that reflects confidence in Malawi’s future.

“This is a major investment that will strengthen Malawi’s tourism and hospitality sector,” Banda said. “It has the potential to attract business and leisure tourists, create employment, and uplift several allied industries.”

The upcoming 4-star facility will feature 180 beds, a state-of-the-art conference centre, gym, spa, and fine-dining restaurants, positioning it as one of the capital city’s premier hospitality establishments. It is also expected to boost Malawi’s capacity to host regional and international conferences.