|Property owners convert hotels into apartments|
Several hotels at the Coast have been converted into apartments amid a downturn in the tourism industry which has hit investors hard.
More than 10 major beach hotels in Kwale, Mombasa and Kilifi have been transformed into rental apartments, targeting both short and long term tenants.
Property owners have attributed the shift to a slump in tourist numbers in the region which has continued to hurt tourism sector earnings thus jeopardizing the hotel business. Read more…