The 5 star hotel business in Kenya is booming. Just after the Wyndham Hotel Group announced its launching in Tanzania, the OLE-Sereni was working on an expansion plan.
Placid View Properties Limited, the firm that owns Ole-Sereni today announced it had raised Ksh 1.9B from KCB Group and in a move to fully finance its second expansion phase. The deal will see the firm offer a fine blend of African and modern deco; fine finishes and impeccable design at its new Grand Hall, which is able to host up to a sit down event for 800 people or entertain up to 1000 guests, with 154 rooms, which will be a combination of guest rooms and service apartments.
The Grand Hall will also have an ‘All day Dining’ restaurant and an ethnic restaurant offering middle-eastern cuisine. This development will surely be a show- stopper and a one-stop hospitality destination for the business traveler.
“I am happy to note that once the project is completed, the new facility will offer unparalleled product and services that will position the hotel as a preferred destination for visitors looking at getting value for their money. Its prime location that will allow visitors to have a panoramic view of the city and the National Park ” said Ghulam Samdani, the General Manager of Ole-Sereni.
The deal is part of the KCB’s Asset Based Financing portfolio that supports structured partnerships. KCB has been bankrolling such initiatives to drive growth of businesses in Kenya and the region at large. .
“KCB Group believes that it is only through strategic collaborations with various industry players that will enhance the provision of services to their clientele. This partnership cements our resolve of being a world class provider of financial services to advance the development of various projects,” Mr. Makome said KCB Chief Business Officer & MD Kenya Sam Makome.
Ole-Sereni, is situated on the busy Mombasa Road overlooking the Nairobi National Park where visitors are able to have breathtaking views of the park when at the facility.
KCB Group also financed Ole-Sereni’s renovation in 2009.