Kenyans Invited To Buy Hilton Hotel- How To Bid

Hilton International owns 59.42 per cent while the government owns 40.57 per cent.

Kenyans Invited To Buy Hilton Hotel- How To Bid
The iconic Hilton Hotel in Nairobi. /HILTON HOTEL

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 multi-billion property in Nairobi Central Business District (CBD).

Hilton International owns 59.42 per cent while the government owns 40.57 per cent. This would mean that the Hilton Hotel property is being put up for sale through the sale of the majority stake in the owning company.

In a notice put out by global real estate consultancy Knight Frank 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.

Hilton Hotel overlooking Dedan Kimathi statue in Nairobi CBD. /FILE

The transaction represents a rare opportunity for interested Kenyans to acquire a stake in the Hilton Hotel, whose building has been considered a landmark in Nairobi CBD for many years.

Criteria Before Placing Bids

However, prospective buyers will have to first 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.

Here is a summary of the required documents:

  1. Evidence that the Bidder is legally registered or incorporated. In the case of individuals, copies of national identification cards or passports.
  2. Company Profile and Track Record for similar acquisitions.
  3. Demonstrate their financial capacity to acquire 59.42% of equity in International Hotels Kenya Limited.
  4. Provide a reference letter from a reputable mainstream bank clarifying the availability of reserves to undertake the acquisition.

The five-star hotel, known for its imposing 17-storey circular tower that has been Nairobi's iconic landmark for many years, offered patrons one last opportunity to dine and wine over the Christmas period in 2022 before finally shutting its doors for good, after 53 years.

“Following extensive discussions with the hotel ownership, Hilton Nairobi will cease operations on December 31, 2022,” a Hilton spokesperson said at the time.

Regardless of whatever entity takes over the building, on some level, this will always be Hilton for many city residents. It was a meeting point for some and a geographical reference point for others, and will likely remain so for years to come.

The Hilton Nairobi was a pioneer in the hospitality industry having set the standards for hospitality in the city. The hotel was the first hospitality company in Kenya to sponsor the renowned Safari Rally driver Patrick Njiru.

Having conducted its extensive Ksh1.36 billion renovation, the facility was also the first property in the capital to introduce the executive lounge concept for its VIP guests in 1994.

It had 287 rooms - 45 twins, 185 doubles, seven suites, 22 pool rooms and 27 executive rooms and attributed its closure to declining business in Nairobi CBD.

However, to avert job losses, Hilton promised to deploy its staff in other branches in other facilities in Hurlingham and Mombasa Road (Garden Inn), who were given a hefty sendoff package in line with the law.

A swimming pool at the Hilton Hotel. /BOOKING.COM