The proposed project is a 4-star resort sitting on 36 acres of land in
Mweiga Ward, Nyeri County.
The Hotel is designed to capitalize the view of Mt. Kenya and the surrounding plateau. It also delivers authenticity and cognizance of culture from a contemporary African point of view.
The resort site is located approximately 23KM from Nyeri town via the Nyeri-Nyahururu road. The Hotel will consist of a hotel, villas, a spa, conference center and other Recreational facilities such as a swimming pool and a gym.
The proposed hotel facilities will consist of 100 rooms configured as
Follows:
Standard Rooms – Wheelchair access (2), Queen beds (60), Twin beds (20), Superior Rooms- King beds (12) Junior Suites- King beds (4) Superior Suites- King beds (2)
The proposed rooms concept will be ensuite with ample wardrobe
space and a work desk. To cater for the family and group market, the
rooms will have acoustically designed interconnecting doors in 10% of
available rooms. The suites will be larger in order to have a separate
sitting room/area.
The proposed resort consists of 45 Villas comprising of 25-3 bedroom and 20-4 bedroom villas.
The food and beverage facilities seating space will be 80% of the total bed
capacity. The main restaurant will be located on the reception floor along
with the bar and lounge.
The proposed hotel will have a purpose-built conference center attached to
the main hotel, consisting of 7 conference rooms including a ballroom
which can be divided into at least 2 rooms. State of the art equipment and
sophisticated lighting systems will be installed in every room to facilitate
flexibility in conversion of use with ease.
Leisure facilities include a gym and a swimming pool. The gym will be
equipped with high quality equipment giving access to hotel residents
guests.
The proposed resort is designed to enhance views of Mt. Kenya while
delivering an appreciation of detail, a belief in
The Resort will operate along four (4) demand segmentations as follows;
Conferencing - This segment comprises of people travelling to the area for conferencing purposes from government, businesses, NGOs and other institutions. The segment will account for 60% of the total hotel business.
Corporate- This segment comprises of people travelling to the area for business purposes, and is expected to account for 15% of the total hotel revenue. This segment will also
include contracts made with corporate clients who intend to use the hotel’s facilities for accommodation of their delegates for relatively long periods of time.
FIT/IBT- The Free and Independent Traveler (FIT) or Individual Business Traveler (IBT) is the segment where and individual books a room at the hotel upon arrival or through online channels. They tend to pay the published rates. This segment will comprise 10% of the hotel’s total business.
Leisure- Unlike the conference and corporate segments that are predominantly during the weekdays, this segment will use the hotel on the weekends and holiday seasons. The
segment will account for 15% of the annual occupancy.
The Aberdare Country Club, only a two and a half hour drive northeast
from Nairobi, is nestled on a slope of Mweiga Hill in the Aberdare
Highlands, part of the Great Rift Valley. Considered a heritage
property in Kenya, The Aberdare Country Club has retained the charm
of a private home with the simple comforts of a country inn. The
Country Club is owned by the Marasa Group from Uganda.
White Rhino Hotel is located in Nyeri town, 152 Km from Nairobi.
Founded in 1910, the hotel is gazetted as a National Heritage site. It
has since undergone various changes including a change in ownership
and a new room block which has a four star rating. The hotel offers
team building, excursions, and various kids activities.
$19.8M Strategic Acquisition: JV Comprising:
US$12.5m |
Construction Finance |
US$ 7.3 M |
JV Partner |
$19.8M Hybrid Funding Comprising:
US$12.5m |
Construction Finance |
US$ 7.3m |
Equity Finance |
KEY METRIC OVERVIEW
Company:
Overall IRR: 18%
LTV: 60%
DSCR: 1.4X
Cap Rate: 10%
Operating Exp Ratio: 37%
EBITDA: 27%
Residual Value Hotel: $36M
Return on Equity: 24%* Avg. Holiday Villa Cost: US$350,000M
(Based on the debt headroom, the company is in a
position to fund its strategic expansion solely
through debt financing, however the company will
be highly levered)
Company
The company intends on outright sales for the
holiday villas & using its cash flow for repayment of
debt
If interested kindly Click here for more info about the project or email us at info@princelinkventures.com