The International Hotels (Kenya) Limited, which owns the iconic former Hilton Hotel has invited interested parties to acquire a 59.42 per cent stake in the property.
According to a notice put out by a property management firm on behalf of Hilton Hotels, interested candidates were required to present their bids before 11:00 A.M on May 7, 2024.
“Our client, Hilton International Ltd Invites Expressions of Interest (EOIs) for the purchase of its 59.42% shareholding in International Hotels (Kenya) Limited,” read the notice in part.
However, the property firm has provided several conditions for interested candidates to meet before being considered.
First, the interested parties should submit comprehensive information indicating their experience, track record and financial capability to undertake the acquisition.
For interested parties to prove their financial capability to undertake the acquisition, they should provide a reference letter from a reputable mainstream bank clarifying that they have reserves to undertake the acquisition.
Additionally, the bidding company must provide their profile and a proven track record for similar acquisitions in the past.
Further, there must be evidence that the bidder is legally registered or incorporated.
However, individuals planning to undertake the acquisition will be required to provide copies of national identification cards or passports.
The sale of the hotel’s stake comes after the government undertook a privatisation of the property in October 2023.
Nairobi-based Standard Investment Bank (SIB) was appointed to guide the privatisation of the prime property estimated to be worth Ksh10.8 billion.
This was after the hotel announced the closure of its doors in April 2022 after 53 years of operating in Kenya.
