KENYA’S LARGEST BANK SET TO FINANCE ANOTHER NAIROBI HOTEL
(Posted 21st April 2015)
Kenya Commercial Bank has reportedly agreed to finance the expansion of the Mombasa road based Ole Sereni Hotel, furthering the bank’s engagement in the sector after previously co-financing to the tune of more than 5 billion Kenya Shillings the recently opened English Point Marina development in Mombasa.
It is understood that Ole Sereni intends to build a major conference facility which will link the present hotel to a second similar property next door, effectively doubling the hotel’s capacity when complete. The existing hotel presently offers 126 rooms and 8 suites and is ranked by TripAdvisor as number 24 out of 122 rated hotels in the city while listed by the service as a four star hotel.
The Ole Sereni is set at the edge of the Nairobi National Park, off the main highway from the airport to the city and will be located next to the so called Southern Bypass which will run from near the hotel to Langata, using a strip of park land. The vicinity of the hotel access to a major traffic artery into, out and around the city of Nairobi makes it easy to reach the international airport which is just 10 kilometres away from the Ole Sereni while the city centre is just a further 5 kilometres away.
The hotel’s owners had earlier this year made public their plans to expand the hotel and with the finance now secured for the estimated 2 billion Kenya Shillings project, construction is likely to start within weeks.
