Tuesday, August 9, 2022

Businessman Chris Musau buys 680 Hotel at Sh. 1.2 billion

Businessman Chris Musau has acquired the 680 Hotel located in Nairobi in a Sh. 1.2 billion deal.

Musau has made the acquisition through the Maanzoni Lodges which he owns. The 680 is part of the Sentrim Hotel portfolio that is associated with billionaire investor Jagdesh Patel, who in 2018 tapped property firm Knight Frank to sell his eight hotels.

The last publicly known financials for the 680 Hotel showed that it made some Sh. 213 million revenue in 2018.

The sale of 680 to Musau will now see the hotel join the Maanzoni franchises, which includes the three-star lodge with 326 ensuite rooms located on a 28-acre plot in Lukenya, Machakos.

Apart from this acquisition, Musau is also planning to set up an 11-storey 300-bed hotel with luxurious residential facilities in Machakos town.

The 680 Hotel was part of the Sentrim Hotel franchise that is also on sale. According to Knight Frank which has been overseeing the sale, the Sentrim Hotels have been on sale for a collective Sh. 5.2 billion.

The Sentrim Hotels are made up of eight hotels spread across the country including 680 Hotel in the Nairobi city centre. Others are the Boulevard Hotel located on the fringes of the CBD along Harry Thuku Road with 70 rooms.

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Castle Royal Hotel situated in Mombasa city along Moi Avenue (68 rooms) and newly built Elementaita Lodge on the shores of Lake Elementaita with 84 guest rooms and 58 cottages.

The group also owns Samburu Lodge situated in Samburu National Reserve with 21 cottages, Sentrim Tsavo located in Tsavo East National Park with 21 luxury tents, Sentrim Mara located in the Maasai Mara game reserve with 31 twin tents and Sentrim Amboseli located in the Amboseli National Park with 60 tents. The hotels first went up for sale in 2018.

According to insider reports at Knight Frank, the sale of the remaining franchise is at the last stages, even though potential buyers have not been publicly revealed.

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