Hilton Bujumbura

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The project consists of the renovation and rebranding of the former 3-star 106 keys Novotel Hotel in Bujumbura, Burundi into a 4-star 138-room “Double Tree by Hilton” hotel (the “Project” or the “hotel” or “Hilton Bujumbura”). The Novotel Hotel commenced operations in late 1984 and since then has been the property of the Government of Burundi (GoB) through the Societe Hoteliere Nouvelle du Burundi (SHNB). In December 2010 Opulent (B) Limited (“Opulent” or the “Company”), purchased all the shares in SHNB together with the hotel property and the land which is 14,300 m2. The Company will operate the hotel under a 22-year Franchise Agreement with the Hilton Group. Opulent is equally owned by Mr. Ayaz Ali Jivraj and Mr. Bashir Nathoo (together the “Sponsors”). The Sponsors have already successfully developed two similar hotels in Tanzania (Dar es Salaam and Zanzibar). The hotel is located in the city center on Avenue du Stade – one of Bujumbura’s major thoroughfares, approximately 9 km from the international airport, and situated adjacent to several commercial buildings and a couple of small sized hotel developments. The facilities for the rebranded hotel will include food and beverage outlets, swimming pools, pool bar, stand alone bars, conferencing suites, administration area, staff housing, shops and other amenities. Renovation works have started and the hotel is scheduled to open in January 2013. The Hilton brand will facilitate the transfer of technical, training, marketing and reservation systems to the Group.