Ainabkoi MP William Chepkut’s Royalton Hotel To Be Auctioned Over Defaulted Loans

royalton hotel
Royalton Hotel Eldoret Up For Auction. / Courtesy

Ainabkoi Member of Parliament (MP) William Chepkut is likely to lose his multi-million hotel in Eldoret according to bank records.

The prestigious Royalton Hotel, that sits on a 3.68 acre piece of land has been put up for auction.

An auction notice was published last week by Watts Auctioneers, who invited potential buyers to attend a sale event mid-April.

“Under instructions received from our principals, the charges in exercise of their statutory power of sale, we shall sell the under mentioned property on Friday 12 April at 11 am near the general post office, Eldoret Town,” the auctioneers mentioned.

Read: Raila’s Company Spectre On The Verge Auction Over Ksh7.7 Million Debt

They further noted that a deposit of at least 25 per cent would be required from the potential buyer.

The notice also stated: “The hotel’s lodging block comprises a three-storey building with each floor accommodating similar eight self-contained lodging rooms.”

The hotel contains six cottages, five related buildings and lodging blocks.

However, despite the notice, the MP could not be found for a comment on the same.

According to auctioning firms, there has been a rise in the number of property being auctioned from 2017, however, they are still struggling to find buyers.

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Written by Jael Keya

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