Eastland Hotel, a well-known 4-star property located in Nairobi’s Kilimani area, has been placed under receivership by Equity Bank Kenya.
The move follows growing financial pressure across Kenya’s real estate and hospitality sectors, which continue to register high levels of non-performing loans.
Joint Receivers Appointed
In a notice dated September 11, 2025, Equity Bank announced the appointment of Kamal Anantroy Bhatt and Jai Kamal Bhatt of Anant Bhatt LLP as Joint Receivers and Managers of Eastland Hotel Limited.
“The Receivers have full authority over the company’s assets and operations. Any dealings without their written consent will be considered unlawful,” the bank stated.
The directors of the company have been instructed to submit a Statement of the Company’s Affairs within 12 days.
Sectoral Loan Pressures: Real Estate and Hospitality Under Strain
According to the CBK 2024 Banking Supervision Report, the real estate, Trade, Manufacturing, and Personal & Household sectors accounted for 70.2% of gross loans as of December 2024. These same sectors also registered 72.5% of gross non-performing loans, reflecting a challenging business environment.
- Real Estate alone held 18.5% of gross loans and 18.5% of NPLs, signalling deep financial strain.
- Tourism, Restaurants, and Hotels, which include establishments like Eastland Hotel, accounted for 2.8% of gross loans and 2.7% of NPLs.
- The Personal and Household sector had the highest number of loan accounts (92.6%) and contributed significantly to NPL volumes.
Eastland Hotel, which opened in 2011, is known for its Chinese-themed design and proximity to shopping centres such as Prestige Plaza, Adlife Plaza, and Yaya Centre. It is located approximately 7 kilometres from Nairobi’s Central Business District.
Separately, Nairobi Upperhill Hotel was placed under receivership by the National Bank of Kenya on August 18, 2025. Kamal Anantroy Bhatt of Anant Bhatt LLP was appointed as receiver and manager of the property.
Eastland Hotel Placed Under Receivership by Equity Bank Amid Sector-Wide Loan Pressures
