George Maragia is an inspiring entrepreneur who left a lucrative job in the United States to pursue his dream of starting his own business in Kenya. Maragia saw a market gap in the Airbnb industry in Kenya and with his experience in hospitality, he decided to start his own Airbnb business.
“In America, the Airbnb concept is widely adopted. Most entrepreneurs know that a traveller may want to spend about a month with his or her family, and in such a case, a hotel would be expensive, it would also not offer them privacy,” Maragia told media house Capital News.
When Maragia returned to Kenya to invest, he found that staying in hotels was expensive and furnished apartments were not always available. This led him to explore the idea of starting his own Airbnb business.
He began by leasing apartments in Lavington and Kilimani and investing his savings into furnishing and decorating them. He then listed these properties online under his brand, GeoMara Luxury Homes.
In the early days of the business, Maragia charged a minimum of Sh. 10,000 a night for a 3-bedroom apartment, and he quickly attracted customers. The business was so successful that he was able to purchase the two apartments he leased.
“In the long run, I knew this would be a good investment decision because leasing can also be very expensive and you find that at the end of the month, the money you made through your Airbnb is what you pay the landlord for leasing,” he added.
Maragia’s entrepreneurial spirit and determination to succeed in a challenging market paid off. The GeoMara Luxury Homes brand expanded from Lavington, Karen, Westlands, and Kilimani to other major towns in Kenya, such as Mombasa, Kisumu, and Nakuru. In these areas, the demand for luxury Airbnbs was on the rise.
Despite the challenges he faced, such as low levels of technological sophistication in the local Airbnb industry, Maragia was able to grow his business and achieve success. He encourages other entrepreneurs to take chances and start their own businesses, even in challenging markets like Kenya.
As Maragia’s business grew, he faced new challenges and obstacles. He had to learn how to manage his finances and make sound investment decisions to ensure the sustainability of his business. He also had to learn how to balance his work life with his personal life, as the demands of running a business can be overwhelming.
Through it all, Maragia remained committed to his vision and his customers. He worked tirelessly to provide them with high-quality, luxurious accommodations that were affordable and convenient. He listened to their feedback and used it to improve his services, ensuring that his customers always had the best possible experience.
Today, George Maragia’s GeoMara Luxury Homes is a leading brand in the Kenyan Airbnb industry.