Diaspora-backed investment firm FEP Holdings has leased its four-star Sagana resort to global hospitality chain Swiss Hotels as part of its turnaround strategy.
Chairman James Kaguchia said the partnership affirms the quality of hospitality products being developed by FEP.
He said the Sh800 million 146-bed hotel development will trade as Swiss International Resort and Spa, Sagana.
“We have had a bad past where we experienced heavy losses but that is now behind us and the current turnaround board is keen to ensure we return to profitability within three years,” said Mr Kaguchia.
Swiss International Hotels chief executive Henrie Kennedie said 100 Kenyans will be employed at the Sagana property set for opening this December.
It is the second investment by Swiss after its facility at Naromoru, the Swiss International Resort Mount Kenya.
“With this investment, we have 146 rooms to fill or 53,000 rooms a year or about 100,000 tourists to accommodate annually,” he said.