Hilton Hotel puts 59 per cent stake in Nairobi CBD up for sale
Hilton International Limited has invited interested parties for the sale of 59.42 per cent of its shares in one of the iconic buildings in Nairobi CBD.
In an advertisement published in the Daily Nation newspaper on Tuesday, April 16, those interested in the shares, which are owned by International Hotels (Kenya) Limited, should send their expressions of interest by email with the subject line: “Expression of Interest – For the acquisition of Hilton International Ltd’s shareholding in International Hotels Kenya Limited”.
Interested parties have also been asked to submit comprehensive information demonstrating their experience, track record and financial capability to undertake the acquisition.
Some of the information to be submitted includes evidence that the bidder is legally registered or incorporated and, in the case of individuals, copies of IDs or passports are required.
A company profile and track record of similar acquisitions is required, as well as evidence of financial capability and a letter from a reputable bank clarifying the availability of reserves to undertake the acquisition.
The Hilton Hotel in Nairobi will close its doors in December 2022 after 53 years of operation.
The building has been operating with little activity, prompting the Nairobi County Government to remove the barriers on both sides of the road used by the hotel as a pick-up and drop-off point for its guests.
The iconic building is located between Mama Ngina Street and City Hall Way, opposite Archives.
The advertisement was placed by one of Kenya’s property consultants, Knight Frank and the Privatisation Authority.
The hotel was one of the businesses in the country affected by the outbreak of the coronavirus, which saw many Kenyans laid off.
This was compounded by the contraction of the tourism sector and the impact was felt most by hotels and restaurants around the world as normal flights and shipping were disrupted.