Simba Corporation has completed the acquisition of a minority stake in Hemingways Holdings Limited, signaling the firm’s growing interest in hospitality industry.
The acquisition of the 35 per cent shareholding is expected to provide additional capital to fund growth and expansion within the Hemingways group of companies.
Simba Corp currently has three properties, Olare Mara and Villa Rosa managed by Kempinski and Acacia Premier Kisumu.
Through their collaboration, Hemingways and Simba intend to achieve long-term sustained growth and continue to develop best-in-class hospitality assets built to the highest international standards.
“Since our entry into the Hospitality sector in 2010, we have been focused on creating world class experiences for our guests. Through our partnership with Hemingways, we intend to continue to build on this strategy. This investment is therefore aligned to Simba’s goal of creating a substantial Hospitality business platform with the intention to expand nationally and within the region,” said, Adil Popat, Chief executive, Simba Corporation.
Hemingways Holdings Limited is the parent company of three iconic properties that represent the definitive portfolio of luxury travel in Kenya: Hemingways Watamu, Ol Seki Hemingways Mara and Hemingways Nairobi.
The transaction also includes Express Travel Group, a subsidiary of Hemingways, that provides comprehensive and high quality travel management services through its international franchise partnerships with American Express Global Business Travel and Europcar International as well as through Hemingways Expeditions, a premium Destination Management Company.
610 total views, 4 views today