Africa -  Kenya - Nairobi

Kenya had an extraordinary election year in 2017. While the election itself in August was relatively peaceful, it was annulled after the supreme court found evidence of irregularities. The second vote, two months later, was boycotted by the opposition in fear that not enough was done to check the irregularities. At the end of November 2017, Uhuru Kenyatta with his pro-business and pro-international investment approach, was sworn in for a second five-year term as president of Kenya as he pledged to work for national unity.

On the tourism front, unlike previous election years where tourism visitation and earnings had declined by 10%-15% in the election year, the airport arrivals in Kenya increased by 2.1% while the Kenyan Ministry of Tourism announced that tourism earnings hit a decade high. What is even more remarkable is that international visitation increased by 6.8% year on year in 2017 reflecting well on the performance of the popular tourist destinations in Kenya.

The extended election year 2017 saw only a marginal fall in the accommodated room nights for Nairobi. Further, the additional supply in the capital city including the new branded supply at the airport (Hilton Garden Inn, Four Points by Sheraton, and the recently converted Crowne Plaza) is being absorbed steadily. There are an additional 1,500 rooms expected to enter the Nairobi market over the next three years, however, gaps remain in the branded midscale and serviced apartment segments.

Exchange Rate:

Exchange Rate 2016 Exchange Rate 2017 Change 2016/2017 Exchange Rate 2018 Change 2017/2018
US$ 1 0 0
Kenya - Nairobi 0.00969 0.00952 -1.8% 0.00981 3.0%

Change In Value For Market:

Legend
Significant Value Increase: Greater than +10%
Moderate Value Increase: Between +3% and +10%
Stable Values: Between -3% and +3%
Moderate Value Decline: Between -3% and -10%
Significant Value Decline: Less than -10%

Kenya - Nairobi RevPAR Change

Kenya - Nairobi RevPAR

Year RevPAR
2015 70.56
2016 72.77
2017 64.78
2018 (f) 63.37
2019 (f) 63.46
2020 (f) 68.69

For more information, please contact:

Tim Smith, MRICS
[email protected]
  • +27 797 342296 (w)
Rishabh Thapar
[email protected]
  • +27 0 792790584 (m)
Laura Dutrieux
[email protected]