Nairobi’s Intercontinental Hotel has kick-started the process of seeking a consultant to advise on the management of the property.
Kenya Hotel Properties (KHP), the holding company that owns InterCon through a tendered notice, said:
”The terms and references are for the engagement of a qualified consultant to guide in strategic options towards best use utilisation of the firm’s property situated along Parliament Road near Holy Family Basilica,” the notice reads.
“Define the various strategic options available for the company premises and adjacent parking silo to repurpose the property to ensure maximum returns on investment,” said KHP in a notice seeking consultants.
“To envision and evaluate a mixed-use approach to the premises together with the pros and cons associated therewith.”
Kenya’s Hospitality Sector Remains Dependent on Local Guests
The 389-bed hotel opened its doors in 1969. Unfortunately, due to low revenues, operations closed in April 2019.
The Business Daily reports that the facility was declared technically insolvent for failure to service its debts that stood at KSh717 million.
The Intercontinental Hotels Corporation Group, which is listed in both the UK and the USA, has a 33.8 per cent stake in the hotel group.
51 Year Old InterContinental Hotel to Shut Down Kenyan Operations
City Lodge Group Exits East Africa; Sells its Units in Kenya, Tanzania