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Kenya

Serena Hotels posts loss of Sh168m for half year 2018

Sales went up marginally to Sh2.68 billion from Sh2.62 billion in 2017/FILE

NAIROBI, Kenya, Aug 14 – Serena Hotels has posted a loss of Sh168 million in the first half of 2018, a reduction of the Sh188 million it posted same period in 2017. 

Serena attributes the loss to lower than expected sales from the foreign leisure tourism arrivals in Kenya during the first quarter and the unexpected increase in energy and other operating costs.

Sales went up marginally to Sh2.68 billion from Sh2.62 billion in 2017.

Going forward, the management is optimistic about the second half of 2018 due to direct flights by Kenya Airways from Nairobi to New York from October, resumption of  Air France flights to Nairobi and granting of additional flight frequency of Ethiopian airlines to Mombasa from last month.

“Based on the feedback received from our supplier of Business in traditional and new international source markets, there is increased interest in selling destination East Africa. Current forecasts indicate satisfactory outlook during the second half of 2018 for Serena Kenya, Serena Tanzania and Serena Uganda,” Management said.

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