Kasada Exits Ibis Douala
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Kasada, an independent real estate private equity platform dedicated to delivering attractive sustainable value across the hospitality sector in Africa, has sold the Ibis Douala located in Bonanjo, a key business district of the city of Douala, in Cameroon to Christina Hotel, part of the Bocom Group.
Kasada, an independent real estate private equity platform dedicated to delivering attractive sustainable value across the hospitality sector in Africa, has sold the Ibis Douala located in Bonanjo, a key business district of the city of Douala, in Cameroon to Christina Hotel, part of the Bocom Group.
Kasada originally acquired this non-core property as part of an 8-hotel portfolio transaction in 2021, which was one of the largest cross-border hospitality transactions in Africa at the time.
As part of Kasada’ active portfolio management strategy, this hotel was not a long-term strategic asset for Kasada.
The 160-key hotel was originally opened in 1985 in a key business district of Douala and comprises a restaurant, bar, outdoor pool, and several meeting rooms. The property obtained EDGE green building certification in 2022. Kasada extends its best wishes for a bright future to both the hotel and its excellent and dedicated staff.