Kenya's Fairmont Hotel Sold for Sh1.8bn
By EDWIN OKOTH
An undisclosed local investor has formally acquired the Fairmont Mount Kenya Safari Club at Sh1.8 billion.
Kingdom Hotel Investments, a wholly owned subsidiary of the Saudi Arabian conglomerate, Kingdom Holding Company, has sold its 75 per cent stake in the famous hotel in a transaction that was closed on the first day of this month.
KHI Chairman Prince Alwaleed Bin Talal Bin Abdulaziz said the disposal deal was meant to enable the investor realise maximum value and begin diversifying into other ventures.