Subscribe & Follow
Trending
Show more
Advertise your job vacancies
Jobs
- Butchery Blockman George
- Customer Service (Work From Home) UK Market Nationwide
City Lodge takes full ownership of two Kenyan hotels
Listed hotels group City Lodge Hotels has reached agreement with Nairobi-based Fairview Hotel to acquire the other 50% of a joint venture between the two companies‚ giving it full ownership of the Fairview Hotel and the Country Lodge in Kenya's capital city.
City Lodge now has full ownership of the Fairview Hotel in Nairobi. Image: Tripadvisor
Completion of the sale is subject to Kenyan and South African regulatory approvals‚ including that of the Competition Authority of Kenya.
Representing its first expansion foray outside SA‚ City Lodge acquired 50% of the two hotels in May 2012 and established a joint venture with the hotels' previous owners to investigate other expansion opportunities in Kenya and elsewhere in East Africa.
The agreement regarding City Lodge's acquisition of the other 50% of the joint venture is effective from end January 2014 .
City Lodge chief executive Clifford Ross said the transaction demonstrates the group's confidence in Kenya and East Africa and provides a strong platform for further growth in the region.
Apart from its investment in Kenya‚ City Lodge also has a Town Lodge in Gaborone‚ Botswana‚ and is examining expansion opportunities in East Africa‚ West Africa and some Southern African Development community countries.
The City Lodge Hotel Group operates 55 hotels offering 6‚755 rooms across four brands in SA‚ Kenya and Botswana.
Source: I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.zaRelated
City Lodge Hotels joins forces to reignite Durban’s magic! 12 Dec 2024 SA agencies shine at inaugural METAP region TikTok Ad Awards 29 Nov 2024 Business travel is hard. City Lodge has just made bedtime easy 18 Mar 2024 TBWA\South Africa collective shines at this year’s AdFocus Awards 24 Nov 2023 CLHG's Hotelier of the Year is Ian Laughland, GM of City Lodge Hotel Ortia! 9 May 2023 School sports wins with City Lodge Hotels 31 Mar 2023
