Mavuno is a Kshs 90 million investment to convert an old block of flats in Nairobi West into a no-frills bed and breakfast 2 star hotel, ‘The Mvuli HouseTM’ (www.mvulihouse.com) The facility offers quality affordable accommodation in 49 single and double rooms focused on the cost conscious business traveler and budget tourists. The hotel took in its first guests in August 2007.
The investment was made against the backdrop of growth in regional and domestic business travel and the boom in the conference tourism sector and, despite the setback occasioned by the post-election crisis in the first quarter of 2008, turned a profit in its second year of operations. Plans are now underway to recapitalise the syndicate and expand “The Mvuli HouseTM” brand both locally and regionally throughout East Africa.
Total Equity Investment: Kshs 58.5 million
Date of first close: November 2006
