Home Business Hilton International to sell majority stake in Hilton Hotel Nairobi

Hilton International to sell majority stake in Hilton Hotel Nairobi

PHOTO | Courtesy

Hilton International Limited has invited bids for the acquisition of 59.42pc stake in International Hotels Kenya Ltd which owns the iconic Hilton Hotel Nairobi located in Nairobi’s Central Business District.

The hotelier has published an Expression of Interest through property manager Knight Frank for interested investors in the property.

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“Interested parties should submit comprehensive information indicating their experience, track record and financial capability to undertake the acquisition,” the notice stated.

The decision to sell majority stakes in the hotel follows government move through the Privatization Authority to appoint a transaction advisor to help in selling the hotel in 2022 where it holds 40.57pc shareholding.

Subsequently, the Nairobi CBD outlet which was established in 1969 shut its doors on December 31, 2023.

Prospective buyers are also required legally registered or incorporated and in the case of individuals, copies of national identification cards or passports.

Additionally, the buyers should provide a company profile and track record for similar acquisition.

They should also demonstrate their financial capacity to acquire 59.42 pc of equity in International Hotels Kenya Limited.

Lastly, the bidders must provide a reference letter from a reputable mainstream bank clarifying the availability of reserves to undertake the acquisition.

Following the hotel’s announcement to exit from the Nairobi Central Business District in 2022, the Nairobi –based Standard Investment Bank (SIB) was appointed to guide the privatization of the prime property.

Interested parties are requested to submit their Expressions of Interest in the property by May 7, 2022.

Sally Namuye
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