Kasada Capital to Transform Umubano Hotel into Mövenpick
In Kacyiru, Rwanda, the Umubano Hotel is scheduled for renovation and rebranding as a Mövenpick Hotel. Construction is expected to begin mid-year and be completed by 2024. Kasada, Qatar Investment Authority, and Accor are involved in the project, which focuses on hospitality investments in sub-Saharan Africa. The Umubano Hotel in Kacyiru, Rwanda, will be renovated and rebranded as a Mövenpick Hotel by Kasada Capital.
Umubano Hotel in Kacyiru is set to undergo renovation and rebranding as a Mövenpick Hotel, with works expected to commence mid-year. Independent hospitality investment platform, Kasada, acquired the hotel for $40 million through a deal with the Rwandan government via the Agaciro Development Fund in June 2022.
Kasada’s hotels are operated under Accor’s internationally renowned brands, with investments solely focused on Sub-Saharan Africa. The development planning to create a 100-key Mövenpick hotel and additional facilities is largely complete. The project aims to complete construction by the end of 2024, with the hotel set to open in 2025. The hotel will be operated by Kasada, backed by Qatar Investment Authority and Accor.
The Mövenpick hotel brand is established in over 30 countries in Asia, Europe, Africa, and the Middle East. The move represents a focus on hospitality investments in sub-Saharan Africa, with Rwanda viewed as an opportunity-rich market. The hotel’s past investors include the Libyan government-affiliated LAP Investments, Madhvani Group, and global hotel brands Novotel, Meridian, and Accord.
