Serena Hotel shares rise on Easter boom, climbing nearly 4% at the Nairobi Securities Exchange (NSE) as the listed hotel chain TPS Eastern Africa capitalized on a busy festive period. The company’s stock closed the week at Sh15, buoyed by an influx of domestic and international guests who filled Serena’s facilities across East Africa during the Easter holidays.
TPS Eastern Africa manages 15 hotels and resorts under the Serena brand, widely known for its luxury offerings in Kenya, Uganda, Tanzania, Rwanda, and other key East African destinations. The performance highlights the resilience of the tourism and hospitality sector amid broader economic pressures.
The company’s share uptick comes at a time when investors are closely monitoring companies with strong holiday-driven revenues and seasonal profit peaks.
Market Overview
The NSE saw mixed activity during the week ending April 16:
- NASI index rose by 0.21%
- NSE 25 index gained 0.80%
- NSE 20 index increased by 1.47%
- Market capitalization grew by 0.21%
- Total shares traded dropped by 18.51%
- Equity turnover declined by 21.22%
Other notable gainers included Longhorn Publishers (up 9.2% to Sh2.74) and BK Group Plc, which rose 3% to Sh33 following the announcement of a dividend payout scheduled for May 2. Unga Group also posted a 3.12% increase to Sh22.4, marking its first profit in 2.5 years.
Investor Sentiment and Economic Indicators
Despite the decline in equity turnover, investor sentiment was lifted by increased activity in sectors like hospitality, banking, and publishing. The Easter boom in tourism played a significant role in driving Serena Hotel’s share growth.
With tourism returning to pre-pandemic levels in many parts of East Africa and regional travel demand growing steadily, TPS Serena’s performance could indicate further gains in the upcoming quarters.
