1 February 2012 – hotel management agreement
Lonrho has announced that it has been awarded a 10 year management agreement for the 450-room Grand Hotel Kinshasa in the Democratic Republic of Congo. Consultants McKinsey expect Kinshasa to grow into Africa’s largest city by 2025. This agreement follows the group’s successful redevelopment of a hotel in Lubumbashi, the country’s second city. The shares remain a BUY.