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Market News

Superior Homes, Cytonn open new hospitality units

Edwin Dande
Cytonn Chief Executive Edwin Dande. FILE PHOTO | NMG 

Realtor Superior Homes Kenya PLC has diversified its portfolio by opening a high-end Sh800 million Lake Elementaita Mountain Lodge that has created 100 new jobs.

Superior Homes manager Nicholas Njogu said the away-from-home investment is targeting tourists keen on enjoying a new experience by the shores of Lake Elementaita.

“We are excited to open our doors to the public offering holidaymakers a home away from home. It has created 100 jobs for the local community, improving the livelihood of families around us and boosted the national economy,” he said.

The development located six kilometres off the Nairobi –Nakuru highway on a 12-acre plot consists of 33 standard villas, 13 villa suites and four executive villas and conference facilities.

This is the second realtor to unveil a hospitality outlet with Cytonn Investments opening its serviced apartments-cum-hotel CySuites Apartments Hotel in Westlands. Chief Executive Edwin Dande said the 40-room establishment targets both short and extended stay travellers.

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“Demand for serviced apartments continues to grow,” Mr Dande said during the official opening of the remodelled establishment.

The firm’s research data shows that serviced apartments have an occupancy rate of about 88 percent, offering yields of about 12 percent.

Kenya National Chambers of Commerce President Richard Ngatia, who was chief guest at the unveiling, said there was strong demand for hospitality services, making the sector one of the key drivers of the economy.

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