The Kenyan hospitality sector is demonstrating a robust recovery and growth trajectory, overcoming challenges posed by the COVID-19 pandemic. Noteworthy indicators include an upswing in international tourist arrivals, operational hotels, bed occupancies, and reservations.
As per the October 2023 Leading Economic Indicators (LEI) report from the Kenya National Bureau of Statistics, international arrivals through Jomo Kenyatta International Airport (JKIA) and Moi International Airport (MIA) witnessed a year-on-year increase of 31.7% in Q3’2023, totaling 451,441 visitors compared to 342,904 visitors in Q3’2022. On a year-to-date (YTD) basis, the sector recorded a 28.7% surge, reaching 1,238,330 persons as of October 2023, compared to 962,157 persons during the same period last year.
The Ministry of Tourism’s persistent marketing initiatives, including platforms like Magical Kenya and the Kenya Tourism Board’s strategic focus on emerging and established markets, alongside dedicated campaigns promoting local and regional tourism, niche tourism, and the hosting of events like the Annual Safari Rally until 2026, are expected to drive further growth.
This positive outlook underscores the potential for additional growth and prosperity in the hospitality industry, offering opportunities, especially in the realm of short-term rental businesses. With an increasing number of property owners entering the short-term rental business for supplementary income, the popularity of serviced accommodation management companies is rising both globally and in Kenya.
Despite the lucrative prospects in this industry, potential landlords are often discouraged by the substantial workload associated with managing rental properties. In such scenarios, hospitality management companies offer a reassuring solution. These companies provide third-party management services for serviced apartments and apartment hotels, handling various aspects of property management, including daily operations, housekeeping, maintenance, interior design, guest communications, marketing, and revenue management.
Engaging hospitality management companies provides numerous advantages, such as relieving landlords of daily operational responsibilities, allowing them to focus on strategic initiatives and business expansion. For landlords unfamiliar with the intricacies of the letting business, these companies play a crucial role by assuming full or partial hands-on management responsibilities, bringing industry expertise, connections, and specialized knowledge.
Moreover, management companies offer access to valuable resources, leveraging their network of suppliers, industry connections, and purchasing power to achieve cost savings on supplies, marketing campaigns, and operational expenses. Additionally, they contribute to risk mitigation by guiding businesses through legal and regulatory compliance, reducing exposure to legal risks, and ensuring adherence to industry guidelines.
Prominent hospitality management companies, such as Cysuites Hospitality Management and Trianum Hospitality Company, with over four years of experience, stand out in the country, providing comprehensive services to meet the diverse needs of property owners and investors in the short-term rental industry.
For investors exploring short-term rentals, reaching out to a trusted hospitality management company today can kickstart a collaborative journey, undoubtedly benefiting their business. Seize the opportunity to elevate operations and secure a prosperous future in the dynamic landscape of the hospitality sector.