Kenya hotel sales tipped to rise fast - 8 months ago, 9 July 06:19
Kenya will have the second fastest growing hotel room revenues after Nigeria in sub-Saharan Africa over the next five years, a projection by audit and financial advisory firm PricewaterhouseCoopers shows.
Local hotel revenues are annually expected to grow by an average of 9.6 per cent, rising from Sh39.8 billion last year to Sh63 billion by 2022. Nigeria’s will likely grow by 12.6 per cent during the five-year period beginning this year but the absolute amounts – rising from Sh13.2 billion to Sh34.7 billion in 2022—will remain lower than Kenya’s.
The major reason for the increased revenues for hotels in Kenya is continued rebound in tourism, new hotels, improved infrastructure and political stability.
The analysts also cited the growing prominence of the country as an experience destination, indicating it is able to offer beach, bush and city or urban tourism experiences.
“Kenya will benefit from a rebound in tourism, new hotels, its growing prominence ...
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