InterContinental Hotel drops plan to exit Kenyan market
Intercontinental Hotel Group (IHG) has made a turnabout on its plan to exit the Kenyan market after signing a franchise agreement to expand its portfolio in the region.
This after the group signed franchise agreements to rebrand three top properties namely Holiday Inn Nairobi, Two Rivers Mall and The Fairview Nairobi, coupled with Crowne Plaza Dar es Salaam in Tanzania, at a time that the regional hospitality industry is experiencing a resurgence. The move comes just two years after the hotel chain announced its exit from Kenya in 2020, citing financial struggles at its Nairobi facility.
Besides the InterContinental, several top hotels, including Laico Regency, stopped operations owing to the coronavirus economic fallout. The move sees IHG Hotels & Resorts swiftly expand its presence across Africa, as the continent’s profile continues to grow.
“Africa’s hospitality and tourism industry has weathered the disruption of the past two years, with a rising number of inbound travellers, highlighting how much potential the region has,” said Haitham Mattar, the Managing Director for India, Middle East & Africa at IHG.
