Sun Africa Hotels Group, a regional hotel group with a collection of the Extraordinary properties, plans to invest an estimated Ksh1 billion to develop luxury serviced apartments in Hurlingham, Kilimani.
“Nairobi is East Africa’s business and commercial hub and we don’t want to miss out on the opportunities it provides,” Sun Africa Group Managing Director Middle East and Africa, Rahul Sood said in a communiqué.
The group owns Keekorok Lodge(Masai Mara), Nyali Sun Africa Beach Hotel and Spa(Mombasa) Sovereign Suites(Nairobi), Kibiko Luxury Camp(Naivasha) and Lake Naivasha Country Club.
“Serviced apartments have continued to gain traction in Kenya especially for use by holiday guests who are travelling as families and for business travelers looking for mid to long-term accommodation,” according to Cytonn Investments.
Demand for high-end hospitality facilities in Nairobi has been high evidenced by data from the Kenya National Bureau of Statistics (KNBS) Economic Survey Report 2019, according to which, upmarket facilities recorded 1.4 mn bed-nights in 2018, 108.7% higher than other lower class facilities within Nairobi, which recorded 657,000 bed-nights.
“Investors are therefore increasingly focusing on serviced apartments due to their enhanced performance,” Cytonn observes.