Imagery courtesy of IHG Resorts & Resorts.
Sub-saharan funding specialist Kasada Capital Administration shall be giving Crowne Plaza Higher Hill in Nairobi, Kenya, a facelift following its acquisition of the property.
The refurbishment of the 206-key lodge will start earlier than the top of the 12 months, with the acquisition marking Kasada’s second acquisition in East Africa and first in Kenya.
Crowne Plaza Higher Hill opened in 2010 in Nairobi’s monetary centre and options in depth assembly areas together with a ballroom that may accommodate 300 folks, and over 10 assembly rooms with a complete capability of 550 folks.
Its prime location and array of facilities are stated to make it notably engaging to native, regional, and worldwide enterprise travellers alike.
The revamp programme shall be geared toward rejuvenating the general public areas and enhancing the lodge’s environmental efficiency. It will see the property acquire the green-building EDGE certification and, extra usually, create a dwelling house that conforms to the best business requirements and generate worth for the property’s stakeholders.
The quickly to be twin branded property may also embody a state-of-the-art Wojo coworking space which is able to cater to a rising demand available in the market for extra versatile workspaces.
Olivier Granet, Kasada’s managing accomplice and CEO, stated: “This acquisition provides us a gateway into Nairobi’s vibrant ecosystem of innovation and entrepreneurship. We stay up for launching our formidable renovation programme for this lodge with the goal of repositioning it to draw extra worldwide travellers and grow to be the place to be for the local people. Due to our experience and assist, Nairobi’s Crowne Plaza Lodge is about to enter a brand new life cycle and contribute to the revitalisation of the Kenyan hospitality sector submit Covid 19 pandemic.”
David Damiba, Kasada’s managing accomplice and CIO, added: “As we search to diversify our portfolio to ship engaging risk-adjusted returns and yields, our second funding into East Africa marks a milestone in establishing our presence within the core west, east and southern areas of the continent. We stay up for bringing our multidisciplinary experience in creating worth and affect with this asset.”
Together with Kasada’s current buy of Umubano Lodge in Kigali, Rwanda, this second east-African acquisition is meant to reaffirm its standing as a pan-African lodge proprietor and investor. The corporate is now probably the most energetic investor with the preliminary portfolio of motels doubling inside 18 months because of a presence in eight international locations.
Learn our unique interview with Granet and Damiba right here.