Hilton Invites Bids For Sale Of Its 59.42% Shares In International Hotels Kenya

• Hilton International Limited shut down the Hilton Hotel in Nairobi central business district (CBD) over economic challenges
• The hotel was hosted in one of Nairobi's landmark buildings, owned by International Hotels (Kenya) Limited
• The company invited expressions of interest for the purchase of its 59.42% stakes in the Kenyan firm

TUKO.co.ke journalist Wycliffe Musalia brings over five years of experience in financial, business, and technology reporting, offering deep insights into Kenyan and global economic trends.

Hilton International Limited has announced the sale of its shares in International Hotels (Kenya) Limited.

The company holds 59.42% stakes in the Kenyan firm, which owns the iconic landmark building that hosted the Hilton Hotel in Nairobi central business district (CBD).

Hilton Hotel shut down its operations in the CBD citing difficulties in operations due to a tough economic environment.

What are the requirements to buy Hilton Hotel shares?

In a public notice published in the local dailies on Tuesday, April 16, interested candidates are required to submit comprehensive information showing their financial capabilities.

They should also show their experience and track record in the market.

According to the notice, below are the requirements for successful bidders:

• Show a certificate of registration or incorporation for companies and a national ID or passport for individuals.
• Company profile and track record for similar acquisitions.
• Demonstrate financial capacity to acquire 59.42% of equity in the Internal Hotels Kenya Limited.
• Reference letter from a reputable mainstream bank confirming the availability of reserves to undertake the acquisition.

Interested bidders have until May 7, 2024, to submit the requirements for shortlisting.

When did Hilton Hotel shut down operations in Nairobi?

The Hilton Hotel in Nairobi CBD was officially closed down on December 31, 2022, with all entrances locked with padlocks.

A spokesperson of the hotel said that they had had extensive discussions and concluded to cease operations.

The hotel, in which the government has a 40.57% stake, said the decision was influenced by several factors and not limited to the impact of the COVID-19 pandemic.

However, the hotel opened a new luxury hotel along the Peponi-Kitisuru Road in Nairobi after exiting the city's central business district.

Proofreading by Jackson Otukho, a multimedia journalist and copy editor at TUKO.co.ke