The hospitality sector report 2016 by Cytonn Investments, themed ‘Sailing through the storm’, indicates that Nairobi serviced apartments have average occupancies of 90%, 29.6% higher than that of hotels, and are nearly 34% cheaper on average.

The low occupancy across Kenya is attributed to insecurity brought about by terrorist attacks and heightened competition from both local and emerging markets in the region such as Ethiopia, with relatively low room rates.

The report highlights the three best markets for investing in the Kenyan hospitality sector; serviced apartments in Nairobi, three and five star-rated hotels in Maasai Mara and business hotels in Nairobi.

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