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Headline : Serena hotels operator TPS Eastern Africa profit doubles to Sh871m

Read more from the original article on here at www.businessdailyafrica.com.





Tags : #serena #hotels #operator #tps #eastern #africa #profit #doubles #sh871m


No. of Paragraph 14

TPS Eastern Africa, the operator of Serena Hotels, has posted a Sh870.87 million net profit for the financial year ended December 2023, marking a 2.3 times jump from the previous year on increased business.

The latest profit is a growth from Sh379.69 million posted in the previous year and translates to record earnings, overtaking the previous peak net income of Sh615.8 million in 2011.

TPS said its portfolio of 22 hotels, resorts, safari lodges, and camps within the Eastern Africa region, regained its footing, supported by a return of confidence in the foreign leisure and corporate market segments.

“This was further complemented by significant growth in business volumes from both domestic and regional markets spanning leisure, corporate travel, events, and functions. Notably, Serena City hotels continued to be preferred venues for high-profile events and governmental and diplomatic functions,” said TPS in a commentary accompanying the financial results.

Read more from the original article on here at www.businessdailyafrica.com.


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