Laico umubano hotel has bankrolled a total of ($25m) Rwf15 billion for both its renovation and expansion plans that will kickoff early next year.
The board of directors for the Kacyiru-based hotel has approved the funds for the expansion which was raised by the shareholders.
“The plans to renovate and expand are motivated by the desire to provide better services and products to our clients,” said Rosemary Mbabazi, Chairperson Board of Directors.
Laico has got two shareholders with the Libyan investors as the majority shareholders with 60 percent stake while the government of Rwanda owns remaining 40 percent.
Laico a four star hotel has got its business operating in more than ten countries on the continent.
Mbabazi also said that although the expansion and renovation exercise will start next year, the hotel will start launching the whole process this month.
The expansion will see the hotel increase its current rooms from 100 to 160 and 18 new apartments which will be something impressive according to Mbabazi.
“The expansion will also help us increase the occupancy rate and with its completion, we expect more business from our clients,” added Mbabazi.
Last year, the hotel recorded 79 percent of occupancy rate which was not good due to the global financial crisis which hit the tourism sector according to Mbabazi.
However, during the first half of this year, there was a 60 percent occupancy rate and the board chairman hopes that it will improve compared to last year given that the global economy is healing.