The Serena Hotels and Lodges in Kenya are set to benefit following plans to construct more properties and expand some of its existing ones, this is after it receives a US$ 20m loan from the French fund Proparco.
TPS Eastern Africa which owns Serena Hotels and lodges in Kenya confirmed the reports and said that the loan will last for eight years and it will fund capital expenditures over 24 months as from 2016.
“Proparco and Serena Hotels continue to build on their long-term relationship and are proud to have been able to play a leading role in the growth and development of the East African region,” the two organizations said.
The TPS Managing Director Mahmud Janmohamed was pleased with the initiative, he said that most of the money will be used in Kenya, including on expansion of Nairobi Serena Hotel which is estimated to account for 28.8 per cent of Kenya’s room nights. Expansion and refurbishment will include building of new conference and banqueting facilities and renovating bedrooms and public areas.
Additional 32 new bedrooms, food, beverage and meeting facilities will also be built at its Kampala Serena Hotel over the same period. The Dar es Salaam Serena Hotel is also scheduled to undergo refurbishment and extension of the dining areas, spa and public areas starting January next year.
TPS Eastern Africa Limited is a Kenya-based company which owns and operates Serena hotel and lodge facilities in Eastern Africa, as well as serves the business and tourist markets. TPS Eastern operates through five segments, including Kenya Hotels, Kenya Lodges, Tanzania Lodges, Uganda Hotels and others.
