Home Hotel industry Accor replaces InterContinental at the head of the Crowne Plaza hotel

Accor replaces InterContinental at the head of the Crowne Plaza hotel



Accor replaces InterContinental at the head of the Crowne Plaza hotel

Crowne Plaza Hotel at Upper Hill, Nairobi. PICTURES | JEFF ANGOTE | NMG

Accor Hotels will take over the management of Crowne Plaza Nairobi from InterContinental Hotels Group (IHG) following the acquisition of the establishment by Kasada Hospitality Fund.

The fund that bought Crowne Plaza for about 4.6 billion shillings from tycoon Nazir Ahmed Akbarali is backed by Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund, and Accor, Europe’s largest hotel group.

Kasada received funding from the World Bank’s private investment arm, the International Finance Corporation (IFC), which revealed the identity of the hotel operator indicating the expected change in branding.

The 206-room resort will complement Accor’s operations in Kenya where it currently manages Fairmont Mount Kenya Safaris, Fairmont The Norfolk, Fairmont Mara Safari, Ibis Style Nairobi and Movenpick.

On the other hand, the loss of Crowne Plaza will leave the brands managed by IHG at the Fairview at Nairobi’s Upper Hill, the Holiday Inn at Two Rivers and the Crowne Plaza Nairobi Airport.

“The Umbrella project involves the acquisition of a well-established hotel complex currently owned by Golden Jubilee Ltd and operated as Crowne Plaza by IHG. Following the acquisition of Kasada, Accor will operate the hotel,” said the World Bank.

Crowne Plaza has been in operation since 2010 in Nairobi, Kenya and comprises a 206 key hotel complex with an annex which was completed and opened in 2016. The annex includes a commercial office section.

Its acquisition comes amid increased transactions in the hospitality industry which has seen changes in ownership and operators.

Machakos-based Maanzoni Lodges has received regulatory approval to buy the three-star 680 Hotel in Nairobi for an estimated 1.2 billion shillings from the Setrim hotel chain.

Billionaire owner Chris Musau said he plans to rename the City hotel and bring it up to four-star hotel standards.

In July last year, the Kenyan hospitality industry recorded another acquisition deal when the South African owners of the Fairview Hotel, Town Lodge and City Lodge Two Rivers in Nairobi announced the sale of the three hotels to the fund of Actis private equity for 1 billion shillings.

City Lodge Hotel Group has put the three Kenyan hotels and the Tanzanian City Lodge Hotel in Dar es Salaam up for sale as part of a proposed exit from East Africa after just seven years of operation. He plans to sell the Tanzania hotel for 7.3 million shillings.

The deal scene in the Kenyan hospitality industry has also seen changes in management contracts over the past few months.

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