Browsing: Kasada Hospitality Fund LP

Qatari fund buys Crowne Plaza Hotel for Sh4.6bn

It is expected that the industry, which is generally one of the country’s top suppliers of foreign cash, will earn Sh173 billion this year, which is an increase of 18.5 per cent from the previous year.

Earnings dropped to a total of 88.6 billion shillings (Sh88.6 billion) due to governments all over the world restricting the movement of people, primarily through the closing of airspaces.
The number of hotel nights occupied by Kenyan tourists more than doubled during this period, which contributed to the increase in revenue to 146 billion shillings last year.

Due to the epidemic, local resorts, which typically focus most of their marketing efforts on attracting visitors from other countries, were compelled to cater to vacationers from within their own country by providing discounted room rates.

The number of tourists from different countries was still significantly lower than before the epidemic, reaching slightly under 870,500 in 2018, …

Sub-Saharan hospitality investment platform Kasada Capital Management has reached a first close on its maiden fund Kasada Hospitality Fund LP with equity commitments of over USD 500 million.

This is in line with a first announcement disclosed in July 2018 by Katara Hospitality and Accor who are respectively contributing USD 350 million and USD 150 million. In a region which offers robust growth opportunities, the fund will target both greenfield and brownfield projects.

The hospitality market is currently one of the most promising and yet underserviced sectors in Sub-Saharan Africa where growing economies and emerging middle class are creating high-growth markets that are left largely untapped.

The first platform of its kind in Sub-Saharan Africa, Kasada Capital Management intends to bridge the gap between the local hospitality market players and international investors.

The team is co-led by Olivier Granet (CEO and Managing Partner) a former CEO of AccorHotels Middle East …