Investors hot for tourism

The number of tourists in Kenya has been increasing over the last two years. In addition to these foreign visitors, hotels have seen increased local business owing to parliamentary retreats, political parties strategising on elections & the constitution, cultural nights, corporate events and various international conferences.

This has manifested itself in a lot of investor activity. This week the Sarova Group [Stanley, Panafric Whitesands Hotel (an MP’s favourite), Sarova Mara)] declared their intention to list on the Nairobi Stock Exchange. Earlier, TPS Serena, announced a plan at their AGM to consolidate their Kenyan and Tanzanian operations later this year. T.P.S. Serena traded at 53 shillings per share during the May 2005 AGM and now trades at 86 shillings (up 62% in a 2 months)

Saudi billionaire Prince Alwaleed bought all Lonrho hotel properties in Kenya, and the Nairobi Intercontinental is ‘getting a facelift’ as part of an expansion program to increase revenue.

5 thoughts on “Investors hot for tourism

  1. bankelele

    yes. They must give them to anyone who asks – just find out where their registered office is and call/go there.

    also the NSE has a library that is supposed to have all annual reports (some are missing)of listed companies – on 1st Floor of Nation Center, Nairobi.

  2. Anonymous

    Asante sana for the quick response. Actually I am in the US, and have had it tough getting that info. This could be a great business to create… similar to what Bloomberg information service has done for the USA.

  3. bankelele

    a number of progressive companies such as EABL, Safaricom (to name a few) are also putting their financial statements on their web site.

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