Equity Bank Kenya Limited, the largest banking subsidiary of Equity Group Holdings Plc, has taken control of Nairobi’s luxury Glee Hotel after the property owner defaulted on loans exceeding Sh8 billion ($62 million), escalating one of Kenya’s most closely watched hospitality debt disputes.

The lender appointed insolvency practitioner Kamal Anantroy Bhatt as administrator of Glee Hotel Limited, effective July 6, 2026, transferring control of the hotel’s operations, assets and financial affairs from its directors.

The move follows a prolonged legal dispute at the High Court of Kenya, where the two sides have been locked in a battle over repayment terms and the future ownership structure of the high-value property.

Equity Bank moves to recover $64 million debt

Court documents show that Glee Hotel owed Equity Bank approximately Sh8.267 billion ($64 million), while an independent valuation commissioned by the lender placed the property’s open market value at about Sh9.5 billion ($73.4 million)

The dispute reached a turning point in June 2026 when the High Court rejected efforts by the hotel owner to secure unconditional protection from enforcement action.

Under an earlier consent agreement, Equity Bank had agreed to accept Sh7.75 billion ($62 million) as a full settlement, representing about 85 percent of the outstanding debt.

The repayment plan depended on refinancing from KCB Group within a 45-day period, but the arrangement failed after extensive due diligence requirements could not be completed within the agreed timeline.

Equity Bank maintained that the consent judgment was legally binding and that there was no basis to extend the repayment deadline.

Inside Nairobi’s Glee Hotel luxury property

Opened in 2023, Glee Nairobi was developed as a premium hospitality destination targeting business travellers, corporate events and luxury guests seeking a resort-style experience within the capital.

The hotel sits on an eight-acre landscaped property along Nairobi’s Northern Bypass in the affluent Runda neighbourhood, close to the United Nations Office at Nairobi, Village Market, Karura Forest and some of the city’s leading golf courses.

Founded by Kenyan businesswoman Mary Wambui Mungai, Glee Hotel was positioned around a combination of luxury accommodation, conference facilities, dining experiences and access to Nairobi’s diplomatic and lifestyle districts.

Equity Bank’s expanding African financial network

Equity Bank Kenya Limited operates as the largest subsidiary of Equity Group Holdings and has built one of East Africa’s widest banking networks.

The bank operates more than 212 branches across Kenya, supported by over 42,622 agents, 27,291 merchants, more than one million Pay with Equity merchants and over 345 automated teller machines.

Listed on the Nairobi Securities Exchange, Uganda Securities Exchange and Rwanda Stock Exchange, Equity Group maintains subsidiaries across Kenya, Uganda, South Sudan, Rwanda, Tanzania and the Democratic Republic of Congo, alongside a representative office in Ethiopia.

The takeover of Glee Hotel highlights the growing pressure facing Africa’s luxury hospitality sector, where lenders are increasingly enforcing repayment agreements amid rising property financing challenges.