Nairobi, Kenya June 13, 2017: Ultra-luxury often begets ultra-luxury, as Simba Corporation, property holders of the Olare Mara and the Villa Rosa Kempinski in Nairobi, have completed the acquisition of a minority stake in Hemingways, a trio of iconic luxury properties in the country.
The acquisition of 35% shareholding in Hemingways is a strategic investment that will provide additional capital to fund growth and expansion within Hemingways Holdings Limited, the parent company of Hemingways Watamu, Ol Seki Hemingways Mara and Hemingways Nairobi. The transaction also includes Express Travel Group, a subsidiary that provides travel management services through international franchise partnerships with American Express Global Business Travel and Europcar International as well as through Hemingways Expeditions, a premium Destination Management Company.
This further cements the foothold of Simba’s increasing interests in the hospitality sector, which also includes the Acacia Premier Kisumu. This is a bold move, considering other luxury entrants into the market, including Radisson Blu, Marriott and Hilton Hotels.
“Since our entry into the Hospitality sector in 2010, we have been focused on creating world class experiences for our guests. Through our partnership with Hemingways, we intend to continue to build on this strategy. This investment is therefore aligned to Simba’s goal of creating a substantial Hospitality business platform with the intention to expand nationally and within the region,” said, Adil Popat, Chief Executive Officer, Simba Corporation.
“Partnering with Simba enables the Hemingways Group to reach our goal of developing and growing the luxury segment in the hospitality sector. At this point in our expansion plans, with the fabulous new mixed use development of hotel and apartments in Watamu nearing completion, this is exactly the right time for us as a Group to partner with a very respected operator such as Simba,” said Richard Evans, Hemingways Holdings Chairman.
Further financial deal terms were not disclosed. Following completion of the acquisition, Simba will have representation on the Hemingways Holdings board.