Kenya: Cytonn Investments has launched Cysuites Hospitality, a serviced apartment management company.
The primary focus of the new venture is “optimising the operational and managerial efficiency of serviced apartments on behalf of owners and investors”.
Cytonn says it will partner with “existing hotel owners and investors keen on investing in the hospitality industry to garner a collective market share and enhance brand visibility. This will, in turn, create a stellar industry standard when it comes to serviced apartment hotels”.
Cytonn’s Cysuites Hospitality promises “a good return on investments for investors as it leans toward taking a data-driven approach in regards to making strategic decisions for the brand”.
The management company also aims to streamline financial reporting to ensure comprehension as well as “to bridge the gap that continues to exist between investors and operational reporting”.
It says the demand for serviced apartments in Nairobi continues to grow with the investment opportunity lying in Westlands and Kileleshwa/Lavington. The sector recorded an average rental yield of 8.3 per cent and 6.4 per cent, respectively against a market average of 5.5 per cent.
From site identification to construction, re-opening, and running of day-to-day operations, Cysuites Hospitality “will guide investors at every stage of the hotel development and management process”.
