Prince Alwaleed bin Talal, owner of London’s Savoy hotel, has bought the Lonrho Hotels chain in Kenya for £17m.
The group includes the 100-year old Norfolk hotel in Nairobi, which in colonial days was a favourite watering hole of the notorious White Mischief set, the Mari and Mount Kenya safari clubs, Aberdare country club and The Ark.
Lonrho Africa, which was the last vestige of tycoon Tiny Rowland’s empire, said proceeds from the sale would result in the group’s cash surplus increasing to £19m.
It added that it would continue with its strategy of disposing of its residual businesses and assets in Africa, including the Hotel Cardoso SARL in Mozambique.
References: EGi News 12/05/05
