Serena acquires Mövenpick Hotel Dar es Salaam

Posted on November 23, 2011

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Press Release

East Africa’s leading hotel chain, Tourism Promotion Services (TPS), Serena Hotels will
officially include Dar es Salaam Serena Hotel to its City Hotel Portfolio after the Royal
Palm Hotel, previously managed by Mövenpick Hotels and Resorts, which will be
rebranded to the Dar es Salaam Serena Hotel on 1st December 2011.
TPS (D) Limited is the acquiring company owned by the Aga Khan Fund for Economic
Development (AKFED), TPS Eastern Africa Limited (TPSEAL), PDM (Holdings)
Limited, PROPARCO and NORFUND.

The Mövenpick Royal Palm Hotel, a 230-room five-star hotel based in the largest city in
Tanzania will be renamed the Dar es Salaam Serena Hotel from December 1, 2011.

Dar es Salaam Serena Hotel is strategically located within the commercial, business and
diplomatic district. The Hotel will be positioned as the premier up-market five star Hotel
for the discerning corporate and leisure clientele and offer the finest food and beverage
outlets as well as conference and banquet facilities. Each of the 230 rooms has a
spectacular view of either the Garden, Golf Course, Indian Ocean or the City.
Mahmud Jan Mohamed, the Managing Director, TPSEAL, said that he was pleased that
the hotel group has finally established presence in Dar es Salaam which is in line with our
medium to long-term strategy of completing Serena Hotels “City Hotel Circuit” in the
East Africa region. He added, “with our existing Serena Portfolio, the hotel will benefit
from the Groups regional presence and we can offer a circuit covering Tanzania, Zanzibar,
Kenya, Mozambique, Rwanda, and Uganda. We aim to expand this circuit, both in this
country and elsewhere.”
“Serena Hotels is committed to offering a quality product to our clients, exciting careers
for our staff (currently employs 3,400 East African staff at the Serena properties in
Tanzania, Zanzibar, Kenya, Uganda and Rwanda), and satisfactory returns to our
shareholders and stakeholders. We are responsible hotel operators who care for the
physical, social and economic environment of the areas in which we operate. We believe
that the expansion of the Serena brand in Dar es Salaam will strengthen Tanzania’s
position as a key player in the meetings, incentives, conferences and events segment
whilst also attracting the leisure clientele”, said Mr. Jan Mohamed.

The Dar es Salaam Serena Hotel is the latest addition to the TPS, Serena Hotels Group,
which is the tourism arm of the Aga Khan Fund for Economic Development (AKFED), an
international development agency.

TPS, Serena Hotels has expanded from 4 units in the
early 1970s to a collection of 25 luxury hotels, resorts, camps and safari lodges offering
quality accommodation in 6 Countries in Africa (Tanzania, Zanzibar, Kenya,
Mozambique, Uganda and Rwanda) and 10 properties in 3 Countries in Asia (Afghanistan,
Pakistan and Tajikistan). Serena Hotels established presence in Tanzania and Zanzibar in
1996 and expanded from 5 units to 10 units with properties located in Arusha, the
Northern Safari Circuit, the Southern Safari Circuit and now Dar es Salaam. Our
properties are located in some of the most exquisite and prime locations in East Africa and
Asia, which are strategically located to offer exciting circuits for our clients. With focus on
product, service standards and guest satisfaction, Serena Hotels continues in its quest to be
the hotel of choice for the discerning traveler.

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