InterContinental Hotels Corporation Limited is considering the permanent closure of the InterContinental Nairobi (the Hotel) and winding up all its operations in Kenya, citing operational reasons.
As a consequence of such intended wind up, all employment positions within the InterContinental Hotel will be declared redundant in 45 days.
In February 2019, the Hotel was facing closure or auction over debt amounting to about KSh717 million, owed to Stanbic Bank, which exceeded its current income then (KSh206 million) by KSh511 million, thus rendering the business insolvent.
Other hotels that have stopped operations and fired all staff include the Fairmont, which closed its Norfolk and Mara Safari Club hotels and fired all the employees due to the pandemic. The Hotel cited the current impact of the coronavirus on travel and the uncertainty as reasons behind the closure.
See Also:
