The billionaire owner of 680 Hotel in Nairobi’s city centre has sold the three star-facility to Machakos-based Maanzoni lodges for an estimated Sh1.2 billion, underlining the deal-making in Kenya’s hospitality sector.
A transaction advisor who participated in the deal and who spoke to the Business Daily on condition of anonymity said it had received regulatory approval.
680 is part of the Sentrim Hotel portfolio associated with billionaire investor Jagdesh Patel, who in 2018 tapped property firm Knight Frank to sell his eight hotels at a guiding price.
Knight Frank on Thursday signalled that the sale of the other seven hotels, including Boulevard Hotel, Castle Royal Hotel (Mombasa), Elementaita Lodge, Samburu Lodge, Sentrim Tsavo, Sentrim Amboseli and Sentrim Mara, are in the last stages of conclusion.
The 680 will join the Maanzoni franchises, including the three-star lodge with 326 ensuite rooms located on a 28-acre plot in Lukenya, Machakos. BY DAILY NATION
