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Italian billionaire Briatore to sell Sh500 mn Malindi resort

Former Italian Prime Minister Silvio Berlusconi (left) and his friend billionaire Flavio Briatore at the Malindi Airport. PHOTO | ROBERT NYAGAH | NMG
Former Italian Prime Minister Silvio Berlusconi (left) and his friend billionaire Flavio Briatore at the Malindi Airport. PHOTO | ROBERT NYAGAH | NMG 

Italian billionaire and ex-Formula One boss Flavio Briatore has said he is seeking a buyer for one of his exclusive luxury beach hotels in Malindi amid low tourist numbers.

Mr Briatore, through his hotel manager Philip Chai, said the move to sell the Lion in the Sun resort was occasioned by dwindling holidaymakers over the years which has negatively impacted Malindi's economy.

Speaking to journalists today, Mr Chai - who is also the Kenya Association of Hotel Keepers and Caterers North Coast branch chairman - said the exclusive resort is among six hotels that have remained closed in the county.

This is despite booming tourism in Watamu and Malindi resorts such as Kilili Baharini and Ocean beach among others following the end of the General Election.

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