New ownership of the historic Umubano Hotel in Kigali, Rwanda, means the site will undergo a full refurbishment to re-open as a 100-key Mövenpick hotel.
The Government of Rwanda and investment firm Kasada have jointly acquired the Umubano Hotel located in Kigali’s Kacyiru district.
High standard renovation
Kasada’s hotels are operated under the banner of Accor’s range of international brands, and this site will join the group’s Mövenpick imprint in 2025.
Although Kasada intends to retain the flagship architectural aspects of the hotel, the renovation program will ensure the building meets the highest international hospitality and ESG standards (EDGE and Safehotels certification). The new Mövenpick hotel is set to open to the public in 2025 with the addition of health and spa facilities and co-working spaces.
Clare Akamanzi, CEO of the Rwanda Development Board, said: “We are pleased to attract the largest hospitality platform to Kigali to rejuvenate this hotel with its long and storied history. Kasada, backed by Qatar Investment Authority, stood out with its combination of sector expertise, financial scale, and design proposal. We look forward to supporting them in the re-development of this iconic asset.”
Fast growing destination
Olivier Granet, Kasada’s managing partner and CEO, said: “Rwanda is a fast-growing international destination that we consider to be among the most promising for our investment platform. This is an ambitious and exciting project to transform this unique place into a landmark, perfectly connected to the local environment, for the benefit of international visitors while becoming the ‘place to be’ for local residents.”
David Damiba, Kasada’s managing partner and CIO, added: “Kasada is looking forward to deploying its capital and financial expertise to contribute to the FDI flows in Rwanda. This transaction exemplifies Kasada’s ability to transact with private and sovereign owners across the continent.”
This deal cements Kasada as a pan-African hotel owner and follows on from the March 2022 acquisition of Cape Grace in South Africa. The platform now controls over 2,400 hotel keys across seven countries.
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