The supply of new hotel rooms more than doubled last year concurrent with a surge in tourist arrivals but overall supply is expected to remain subdued for the next two years.
- •It was estimated that at least 2.5 million tourists visited the country in 2024, marking a significant increase from the 2.09 million visitors recorded in 2023, which was itself a 35.4% rise from 2022.
- •According Knight Frank’s H2-2024 Real Estate Market Performance, the supply of new hotel rooms increased from 550 in 2023 to approximately 1,350 in 2024, primarily in luxury and upscale markets.
- •Kenya has an ambitious target of attracting 5 million visitors by 2027, a goal partly facilitated by the launching of new routes such as the direct route between Nairobi and Kuala Lumpur by AirAsia.
Notable hotel completions during the review period include the Novotel Westlands (347 rooms), Hyatt House and Hyatt Place (233 rooms combined), and Okash Hotel Nairobi (56 rooms). Outside the capital, the iconic Treetops Hotel reopened after renovations and a prolonged closure due to the COVID-19 pandemic.
The other major hotel development in the pipeline is the Courtyard Hotel near Jomo Kenyatta International Airport (JKIA) in Nairobi. With
an estimated investment of KES 1.2 billion, the Marriott International brand hotel offers 180-rooms. Once completed, the Courtyard Hotel will become the second Marriott-operated facility near JKIA, following the Four Points by Sheraton.
In an interview with The Kenyan WallStreet, Paul Stevens, Chief Operating Officer Premium, Midscale & Economy Division, Middle East & Africa for Accor said the opening of Novetel is an entry point to other African markets.
“The hotel offers a gateway to Nairobi’s vibrant experiences and marks a significant milestone in our growth strategy, as we continue to expand our footprint in key markets across the continent while enriching local communities” Stevens’ said.
The hotel also announced a three-year agreement with World Wide Fund for Nature (WWF) to champion the protection and restoration of the world’s oceans, the greatest source of balance for the planet’s climate, through science-based action and conservation projects.