Kuriftu Resort and Spa-Lake Tana in Bahir Dar gets a new owner as Tadiwos Belete transfers ownership to Worku Aytenew.
Inaugurated in 2014, the 4 star resort lays down on a 5,000sqm of land near its existing property on the shores of Lake Tana. Boston Partners PLC, which owns Kuriftu Resort and Spa built Kuriftu resort at Bahir Dar with 15 million birr.
Sources indicate, the process is being finalized; however they refused to comment on the transaction amount.
Tadiwos Belete, founder of Boston Partners PLC, a company which owns a chain of hotels and spas under the brand name of Kuriftu in various parts of the country, also owns the resort in Bahir Dar.
Except indicating that the resort will not change its name, Tadiwos refused to Capital’s request to provide further comments on the issue.
Bahir Dar admittedly houses several hotels and restaurants. However, this is not enough to cope with the growing demand of visitors and customers.
In related news, Kuriftu Resort has also started operations of its newest resort at the Awash Falls. The firm has also diversified and taken its operations brand abroad after Boston Partners opened a restaurant in Djibouti.
Kuriftu is expected to be the first hospitality industry led business for Worku Aytenew who is a newly emerging business tycoon owning many huge companies in different parts of Ethiopia. The business magnate has invested in the palm oil importation business, commercial farming, mining, aviation, and real estate.