@ Injere..the land will be sold through auction method..currently an acre of land in Nairobi CBD costs around 120 million shillings and an eighth costs 20 million.
@ Eddy...do you know that most hotels in Nairobi CBD have over 90% occupancy rate? Try a practical approach by trying to get a hotel room in Nairobi around 10-11 pm then you will see for yourself how hard it is coz most rooms are full.The statistics are usually doctored so that the hotels avoid paying levys charged by the government. For a net of 2500 to be reduced to kes 350 is unrealistic..the costs cant be this high considering labour in Kenya is not so expensive.
Check out this site for Intercontinental hotel
http://www.ichotelsgroup...en/gb/locations/nairobi
The hotel has 752 rooms with a 95% occupancy rate. Room charges are over kes 10,000. If we do the arithmetrics then you will realise how fast such a project repays itself.
Personally i have done several hotels so i have a good idea of this. Notice that i have not included profit proceeds from conference facilities, food and beverages which is quite substantial. Also, the cost of construction will be much lower since hotel constructions are exempt from import tax.
As Iron Sharpens Iron, So one Man Sharpens Another.