Monday, July 13, 2020

Hotels


CG Hospitality acquires two East African gems
July 2020 1532

CG Hospitality, the hospitality arm of CG Corp Global, the first multi-billion-dollar conglomerate from Nepal, announces its re-entry into the rapidly growing East Africa market, with the acquisition of 2 iconic Fairmont properties in Kenya namely - Fairmont Mara Safari Club & Fairmont The Norfolk. This signing is in line with the company’s strategic expansion plans for aggressive growth in the region.

The recent HVS (HVS Global Hospitality services) Indian Hospitality Industry Overview 2019 Report, ranked ‘Concept Hospitality’ (A member of CG Hotels & Resorts) 1st in property openings and 4th in terms of Keys, in India. With a rich portfolio of 102 comprising existing and signed operating hotels, CG Hotels & Resorts have established themselves as one of the most diversified and environmentally sensitive hospitality management groups in India.

Strategically perusing its global expansion plans, the 2 Fairmont properties being acquired in Africa are popular destinations of choice, amongst travellers.

Through the acquisition, CG Hospitality is becoming a part of a rich historical legacy that the Fairmont ‘The Norfolk’ hotel celebrates. From being the first luxury hotel in Kenya to being a shelter to men and women during World War II, the property has seen and been a part of momentous world events.  It was also one of the stops on Theodore Roosevelt’s “Africa Safari and scientific Expedition” in 1909-10, a hunting trip still considered the most lavish in Kenya history. It served as a gathering place for legendary figures throughout the 1900s, some of them being- Karen Blixen, author of “Out of Africa” and the Adamsons, immortalised in the movie ‘Born Free’.

Rahul Chaudhary, MD & CEO, CG Hospitality Holdings & CG Corp Global, expressed his pride in leading the company closer to its expansion plans. He said, “The acquisition of these two Fairmont Assets in Kenya namely Fairmont ‘Mara Safari Club’ & Fairmont ‘The Norfolk’ marks our re-entry into East-Africa. We are proud of our local partnership in this acquisition through our holding Company CG Madison (Kenya) Limited. With the Fairmont ‘The Norfolk’, we are really buying a piece of history which is priceless! This acquisition plays a very important role in our global vision to reach 200 properties by 2025. In this regard, we have mapped out a 5-country growth strategy in Africa, which we will henceforth pursue.”  




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