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Serena Hotels Sinks Into Ksh557 Million Loss In Six Months

Serena Nairobi
Serena Hotel Nairobi. [PHOTO/ COURTESY]

Serena Hotels, operated by TPS Eastern Africa, has reported a Ksh557.3 million loss in six months to June 30, 2021.

The loss was an improvement from a Ksh640.9 million recorded in a corresponding period in 2020, when the Covid-19 pandemic hit several parts of the world halting both domestic and international tourism which is the main source of revenue in the hospitality industry.

The firm netted Ksh1.07 billion from contracts with customers, compared to Ksh1.1 billion recorded last year, as operating loss closed at Ksh254.8 million.

During the period under review, Kenya received 305,635 international arrivals, according to data by the Tourism Research Institute.

Of these, 94,241 came to visit family and friends, 92,828 for meetings, incentives, conferences and exhibitions (MICE) purposes while 87,629 came for holiday.

15,811 were on transit, 8,637 for education, 3,592 for medical purposes, 1,722 for religious purposes, and 1,175 for sports.

Read: Serena Hotel Closes Up Shop Until June Over Coronavirus

“Given the pent-up demand in regional and international travel, the outlook for the second half of the year remains cautiously optimistic,” the Group says in its financial results.

The management hopes that the ongoing vaccinations and introduction of coordinated travel protocols among countries will open up the travel and tourism industry.

“Our sales and marketing campaigns will continue to target the domestic and regional business, as international travel gradually starts to pick up,” added the management.

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Written by Francis Muli

Follow me on Twitter @francismuli_. Email francis@kahawatungu.com

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