Nepalese Billionaire Binod Chaudhary’s CG Hospitality Acquires Two Iconic Fairmont Properties in Kenya

Main Photo: The Bar at the Fairmont Nairobi

Date: June 2020

Locations: Nairobi and the Maasai Mara, Kenya

Name: The Fairmont Norfolk and The Fairmont Mara Safari Club

No. of Keys: 27 suites and 143 rooms and 51 tents!

Seller: The two hotels were bought from Kingdom Holdings

Buyer: CG Hospitality, the hospitality arm of CG Corp Global, the first multi-billion-dollar conglomerate from Nepal, announces its re-entry into the rapidly growing East Africa market, with the acquisition of 2 iconic Fairmont properties in Kenya namely – Fairmont Mara Safari Club & Fairmont The Norfolk. This signing is in line with the company’s strategic expansion plans for aggressive growth in the region.

Entry into Kenya will cement CG Hospitality’s five country growth strategy in East-Africa.
The brand has a portfolio of 73 existing operating hotels under the Fern, Zinc and Beacon brands in India. The 2020 HVS report says, they are first in opening brand properties and fourth in terms of numbers of keys, in India.

CG Corp claims it’s hospitality portfolio’s exponential growth over the last 13 years. Through the acquisition, CG Hospitality is becoming a part of a historical legacy that the Fairmont ‘The Norfolk’ hotel celebrates.

From being the first luxury hotel in Kenya to being a shelter to men and women during World War II, the property has seen and been a part of momentous world events. It was also one of the stops on Theodore Roosevelt’s “Africa Safari and scientific Expedition” in 1909-10, a hunting trip still considered the most lavish in Kenya history. It served as a gathering place for legendary figures throughout the 1900s, some of them being- Karen Blixen, author of “Out of Africa” and the Adamsons, immortalized in the movie ‘Born Free’.

Rahul Chaudhary, MD & CEO, CG Hospitality Holdings & CG Corp Global, expressed his pride in leading the company closer to its expansion plans. He said, “The acquisition of these two Fairmont Assets in Kenya marks our re-entry into East-Africa. This acquisition plays a very important role in our global vision to reach 200 properties by 2025. In this regard, we have mapped out a 5-country growth strategy in Africa, which we will henceforth pursue.”

CG Hospitality’s journey began in 2001, when Nepal’s only Billionaire Binod Chaudhary invested in Taj Samudra, Sri Lanka along with two other iconic Taj properties in the Maldives. Continuing his father’s entrepreneurial legacy, Rahul Chaudhary joined the already successful CG Corp Global in 2006 as Managing Director and has been spearheading the new hospitality properties in key destinations around the world.

Known for its impressive and storied history, The Norfolk Hotel boasts of 27 luxurious suites and 143 rooms set around tranquil tropical gardens. The signature suites are an excellent choice for guests seeking to experience luxury intertwined with the rich history of the city.

While the Fairmont Mara Safari Club, located in the renowned Maasai Mara Game Reserve, is home to the great wildebeest migration. The Club, set on the foot of Aitong Hills offers 51 luxuriously furnished tents, overlooking the hippo filled Mara River.

THPT Comment: Interesting background to this hospitality major company little heard of to date. Globally, CG Hospitality Holdings owns and operates 130 hotels and resorts with 6,507 keys in 11 countries and 87 destinations!

First Seen: Global Prime News

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