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Top hotels put on sale amid industry slump

Nischal Naik

Aug. 06, 2020

Two three-star hotels in Nairobi have been put on auction as the Covid-19 pandemic batters the hospitality industry.
Banks have hired auctioneers to dispose of the Laibon Hotel in South B and the Hotel Grace Villa and Guest House in Ngara. Kenya Shield Auctioneers is seeking between Sh175 million and Sh190 million for the six-storey Laibon consisting of 56 rooms, a bar, restaurant and offices sitting on 0.115 acres. “Under instructions received from our principals the chargee in exercise of their statutory powers of sale conferred upon them, we shall sell by public auction the... property together with all the improvements erected thereon,” said the auctioneer in a public notice.
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