The Igongo Cultural Centre and Country Hotel in Mbarara now belongs to the government to a 49 percent extent. The action comes after the share acquisition agreement’s conclusion last month.<\/p>\n\n\n\n
The Igongo Culture Center, which is situated near Biharwe along the Mbarara-Masaka route, has become a well-liked tourist destination. <\/p>\n\n\n\n
In addition to offering hotel amenities, the complex includes a museum or cultural center that primarily features characteristics of the Ankole culture, such as cattle rearing, food, housing, and clothing.<\/p>\n\n\n\n
The government’s investment will be managed by the government-owned Nile Hotel International Ltd, a company that has historically focused its operations in Kampala to manage the Nile Hotel and Conference Center. <\/p>\n\n\n\n
Serena Tourist Promotion Services, located in Kenya, has a 30-year concession to operate the hotel, which it rebranded as Kampala Serena Hotel in 2004.<\/p>\n\n\n\n
According to Joseph Barungi, manager of Nile Hotel International Inc, the owners of Igongo Hotel requested government investment in the facility. <\/p>\n\n\n\n
According to rumours, the center’s proprietors required financial assistance to close a hole caused by debt incurred to finish the 4-star hotel.<\/p>\n\n\n\n
The government suggested they contact the investment arm of the Uganda Development Corporation, NHIL, and the ensuing due diligence resulted in the purchase of 49% of the shares. <\/p>\n\n\n\n
Nile Hotel did not specify the price it paid for the interest, but according to Barungi, the facility’s originality and its carefully considered concepts made the offer appealing. <\/p>\n\n\n\n
Despite the facility’s total estimated value of 49 billion Shillings, it is rumoured that the government only paid 9 billion Shillings for it.<\/p>\n\n\n\n
“Their museum and eclipse monument, business factors that make them stand out as an influential tourism hotel,” said Barungi.<\/p>\n\n\n\n
The hotel takes pride in its tranquil surroundings away from the hustle and bustle of urban Mbarara. <\/p>\n\n\n\n
All of the region’s tourism destinations, including the national parks of Lake Mburo, Queen Elizabeth, and Bwindi Impenetrable Forest, are strategically positioned within driving distance of the location.<\/p>\n\n\n\n
According to the website, “the hotel’s convenience, exoticness, and location, as well as its opulent facilities, have helped us build a reputation for our attention to sleek design, remarkable service, and exquisite balance of luxury, comfort, and style.”<\/p>\n\n\n\n
The hotel’s creator and owner, James Tumusiime, is also the owner and founder of Fountain Publishers and was instrumental in starting a national newspaper, the New Vision. <\/p>\n\n\n\n
UDC said on Twitter that it would keep collaborating with Tumusiime to manage the facility.<\/p>\n\n\n\n
In contrast to competing with or driving out the private sector, UDC stated that it collaborates with it.<\/p>\n\n\n\n
On if this is a one-time transaction by the government, Barungi made hints about other acquisitions in the hotel, lodging, and tourism industries.<\/p>\n\n\n\n
Future investment will be based on the findings of the feasibility study, but we are looking at investment potential indicated by the Ministry of Tourism and UTB, he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Igongo Cultural Centre and Country Hotel in Mbarara now belongs to the government to a 49 percent extent. The action comes after the share acquisition agreement’s conclusion last month. The Igongo Culture Center, which is situated near Biharwe along the Mbarara-Masaka route, has become a well-liked tourist destination. In addition to offering hotel amenities, […]<\/p>\n","protected":false},"author":27983,"featured_media":35339,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_paywall_metabox":[],"jnews_override_counter":[],"footnotes":""},"categories":[356],"tags":[31,8330,119],"class_list":["post-35338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-big-story","tag-featured","tag-igongo-cultural-centre-and-country-hotel","tag-uganda-news"],"yoast_head":"\n