Nairobi’s Crowne Plaza heads for refurbishment
Imagery courtesy of IHG Hotels & Resorts.
Sub-saharan investment specialist Kasada Capital Management will be giving Crowne Plaza Upper Hill in Nairobi, Kenya, a facelift following its acquisition of the property.
The refurbishment of the 206-key hotel will begin before the end of the year, with the purchase marking Kasada’s second acquisition in East Africa and first in Kenya.
Meeting hub
Crowne Plaza Upper Hill opened in 2010 in Nairobi’s financial centre and features extensive meeting spaces including a ballroom that can accommodate 300 people, and over 10 meeting rooms with a total capacity of 550 people.
Its prime location and array of amenities are said to make it particularly attractive to local, regional, and international business travellers alike.
Green rejuvenation
The revamp programme will be aimed at rejuvenating the public areas and improving the hotel’s environmental performance. This will see the property obtain the green-building EDGE certification and, more generally, create a living space that conforms to the highest industry standards and generate value for the property’s stakeholders.
The soon to be dual branded property will also include a state-of-the-art Wojo coworking area which will cater to a growing demand in the market for more flexible workspaces.
Nairobi gateway
Olivier Granet, Kasada’s managing partner and CEO, said: “This acquisition offers us a gateway into Nairobi’s vibrant ecosystem of innovation and entrepreneurship. We look forward to launching our ambitious renovation programme for this hotel with the aim of repositioning it to attract more international travellers and become the place to be for the local community. Thanks to our expertise and support, Nairobi’s Crowne Plaza Hotel is about to enter a new life cycle and contribute to the revitalisation of the Kenyan hospitality sector post Covid 19 pandemic.”
David Damiba, Kasada’s managing partner and CIO, added: “As we seek to diversify our portfolio to deliver attractive risk-adjusted returns and yields, our second investment into East Africa marks a milestone in establishing our presence in the core west, east and southern regions of the continent. We look forward to bringing our multidisciplinary expertise in creating value and impact with this asset.”
Active investor
Along with Kasada’s recent purchase of Umubano Hotel in Kigali, Rwanda, this second east-African acquisition is intended to reaffirm its status as a pan-African hotel owner and investor. The company is now the most active investor with the initial portfolio of hotels doubling within 18 months thanks to a presence in eight countries.
Read our exclusive interview with Granet and Damiba here.
Related Articles
Marina Bay Sands reveals details of multi-billion-dollar expansion
Inclusive of a luxury hotel tower, entertainment arena and additional MICE space, the expansion has been designed by original architects of the property, Safdie Architects. Resort expansion The expansion of this iconic resort will see the construction of a luxury...
The Hoxton brings a fresh new hotel offering to Vienna
Additional highlights of this hotel occupying a marble-clad modernist landmark building include a cocktail bar, pool, The Hoxton’s very first auditorium and a ‘French-by-way-of-New-York’ bistro. A new hotel concept for Vienna The Hoxton, Vienna is found in the...
Rebrand for Caledonian
Landmark Edinburgh hotel the Caledonian is to have a makeover, with plans including a major refurbishment, rebranding and an extension to provide more bedrooms. The plans have been announced by the hotel's owner and in-house operator, Henderson Park and Klarent...
Marriott makes its debut in Malaysia’s Perhentian Islands
The local heritage, culture and great natural beauty of this environment will define the experience found at this new resort within Perhentian Island Marine Park. A reflection of its surroundings The just-opened Perhentian Marriott Resort & Spa places guests on...
IHG announces plans for new voco hotel in Hiroshima
The forthcoming voco Hiroshima is the second voco hotel to come to Japan as it joins the 2023-opened voco Osaka. The brand now has 62 hotels in operation, with another 74 in the pipeline. A prime setting On opening in 2027, the new-build voco Hiroshima will place...
Marriott debuts in Papua New Guinea with Port Moresby opening
The debut of this long-stay Marriott property also marks the Marriott Executive Apartments brand’s entry to the Australia, New Zealand and Pacific region. A home away from home The brand-new Marriott Executive Apartments Port Moresby will now offer a home away from...