Developing a hotel in Africa requires immense capital. Funding your hotel through raising debt or equity can be one of the biggest challenges for any hotel or resort development project, especially in Africa. We have a strong track record in capital raising and can support you with all necessary services to optimize your prospects of closing the finance you require for a new development, an acquisition, refurbishment, or redevelopment. Our Capital-Raising Process Debt or Equity Investing in a hotel development project can be an incredibly lucrative venture for property investors, especially in Africa, which is experiencing exponential growth in tourism, driving demand for new quality accommodation options. However, buying and developing a hotel requires capital. Raising debt or equity capital can be one of the biggest challenges for any hotel or resort development project. We have a strong track record in capital raising and can support you with all necessary services to optimize your prospects of closing the finance you require for a new development, an acquisition, refurbishment, or redevelopment. Get in Touch Mobilization & Due-diligence We run each project through detailed due diligence prior to onboarding to ensure that it meets the minimum requirements of our financing partners. This ensures our success during the capital raising process. We also prepare various projects for capital raising if they do not meet the minimum threshold in ROI, Risk, Exposure, Scalability, IRR, and Exit Strategy. Our focus is to ensure that we onboard projects that have achieved the minimum 95% readiness score on our risk assessment. Brand Operator Selection Our Operator Selection services assist owners in selecting a suitable brand & operator whose objectives are best aligned with the owner’s goals for a proposed or existing property. The selection process begins with an information memorandum distributed to shortlisted operators for screening, negotiation of LOI/MOU, signing of the LOI/MOU with the preferred operator party, and contract negotiations with the owner’s legal counsel to safeguard fair partnership terms that optimize financial returns for the hotel. Feasibility & Financials We provides you with a market-led, comprehensive, and detailed hotel feasibility study, including a thorough investigation of the project’s financial requirements and rate of return on investment. Our end result is a detailed report that looks at the macro and micro socio-economic review, hotel market supply and performance, demand generators and gaps in the market which fine-tunes ur development brief for the coast of the project. This has become a minimum requirement for any capital raising for both debt and equity. Financing Negotiations (LOI/HOT) The updated documents are sent to our funding partners, who will, in turn, raise a letter of interest (LOI) outlining the financing heads of terms (HOT), leading into Negotiating the Financing agreement to secure the best terms and interest rates, which is a critical stage in the project cycle and implementation, as this process has implications for all facets of the project. We ensure that our clients' best interests are protected during the negotiation process. IM, IBP & BOV Our team works on developing and designing the relevant documents required for the capital-raising process in line with the RICS standards, guidance, and qualifications that international financiers and PEF require. The Investor Memorandum, Investors Briefing Pack, and the project valuation or Brokers Opinion of Value are clear guidelines for assessing the value of the project to ascertain the financier's interest. These are developed from the financial projections from the feasibility report. Financing Agreement/MOU Sign-Off Working jointly with the client's legal team and our funding partners, we shall develop the relevant Financing Agreement for debt or a JV MOU for equity for both parties to review and sign off. This will be based on the agreed-upon LOI and HOT by both parties. Emphasis is placed on ensuring remedial action in case of default or breach to protect our client's interests. Wen ensure that our clients best interests are protected including a well planned exit strategy with the aim t maximize ROI. Connect with Ankara & Lustar Are you stuck with your hotel development project and need funding? We can assist you in securing senior debt or a mezzanine facility with suitable terms, a moratorium, and low interest rates to finish your project or the right equity partner for your long-term hotel investments. Get in touch with us today! Get in Touch

To reduce the development timeframe and cost and achieve the right quality, Ankara & Lustar partners with key industry experts to ensure your hotel development project is delivered in line with the development area program for the hotel brand, international or regional. Developing a new hotel is a complex, multi-faceted process that requires careful planning, industry expertise, and strategic insight. Hotel Development Services To reduce the development timeframe and cost, and achieve the right quality, Ankara & Lustar partners with key industry experts to ensure your hotel development project is delivered in line with the development area program for the hotel brand, international or regional. Developing a new hotel is a complex, multi-faceted process that requires careful planning, industry expertise, and strategic insight. Ankara & Lustar plays a crucial role in guiding investors, owners, and developers through every stage of the hotel creation process, from initial concept to grand opening. Ankara & Lustar provides essential support to ensure projects are financially viable, operationally efficient, and poised for long-term success, which is guaranteed during the design and construction phase. Get in Touch Project Management We understand that no two hotel projects are the same, as the dynamics, requirements and teams differ. We also know that minimizing risk, maintaining timelines and driving down costs in your project supply chain is vital. This is why we offer you a range of services that cover every project phase, from planning to completion. Throughout the project, we ensure you have what you need in the right place, at the right time and at the best cost. We offer services for planning, design and engineering, as well as for freight management and installation and ensure the project is delivered with the right quality and time frame. Design & Construction In the modern world, hotels are no longer just a place to sleep the night. Instead, it is a space that provides guests with the opportunity to experience the culture of the location they are visiting, to try, feel, discover, and relax at the end of the day. If we could choose the most important factor contributing to guest satisfaction in the hospitality field, it would be hotel architecture and design and construction. The layout and design of your hotel tells a story and completely define the visitors’ experience during their stay. To run a successful hotel today, you need to stop thinking linearly or only consider aesthetics and functionality, and we deliver just that to our clients. Procurement - FF&E / OS&E We specialize in FF&E and OS&E procurement for a variety of hotel property types and builds. From the ground-up new construction to historic renovations, we work on behalf of our client as an important extension of their team. What does it mean to be an FF&E and OS&E purchasing agent? It means we take the stress out of the procurement process for furniture, fixtures, and equipment and also the operating supplies and equipment. We do this by working on our client's behalf with the vendors, manufacturers, designers, freight management, and project managers to ensure a full and complete installation that meets everyone's needs. Project Development Team The resort planning and development process starts with a spark of inspiration and ends with the doors opening to welcome your first guests. It’s as intensive and exciting a process as it is complex, requiring a wide variety of project professionals to come together across different stages of the project. It has to be approached logically, strategically and in an orderly fashion in order to successfully deliver a bricks-and-mortar resort on time and within budget with the following; MEPF - Mechanical, Electrical, Plumbing & Firefighting System Security & Risk Vertical Transportation - Lifts IT Systems, Acoustics and Sound Landscaping Connect with Ankara & Lustar Are you stuck with your hotel development project or need project management services, or looking for a one-stop shop to purchase all your furniture, fixtures, fittings, lighting, operating supplies , we can help! Get in touch with us today Get in Touch

We are a Bespoke White-Label, full-service, independent hotel development & CRE advisory & firm with decades of collective experience in Africa & the Indian Ocean Islands. Our priority purely focuses on our clients' and partners' long-term interests. Together, we have delivered more than 30 hotel projects in the continent, with 14+ internationally branded and independent hotel properties under asset management on behalf of our owners/investors and partners. About Us. "Let Your Interest be Our Priority" We are a Bespoke White-Label , full-service, independent hotel development & CRE advisory & firm with decades of collective experience in Africa & the Indian Ocean Islands. Our priority purely focuses on our clients' and partners' long-term interests. Together, we have delivered more than 30 hotel projects in the continent, with 14+ internationally branded and independent hotel properties under asset management on behalf of our owners/investors and partners. We handle your investments with the confidentiality and grit they deserve, with an emphasis on sustainable management practices. Get in Touch Our Vision To be the preferred Leading "White-Label" Hotel Development Advisory Firm in Africa & the Indian Ocean Islands for both Local & International Investors, Partners and Operators. Our Mission To create a platform for hotel investors and stakeholders to maximize their ROI and increase their asset value through delivering access to cost-effective capital/funding and sustainable, reliable, and efficient solutions to the evident challenges experienced in developing and owning hotel assets in Africa and the Indian Ocean. Our Values Our identity is built around the following values that we believe are the beating heart of our culture; Integrity Passion Innovation Creativity Sustainability Our Team. At Ankara & Lustar, our dedicated team, with 50+ years of collective experience, brings together extensive industry knowledge and a shared passion for advancing Africa’s hotel development and CRE advisory sector. Each team member is committed to delivering tailored solutions and strategic insights that drive successful hotel projects across the continent. From market feasibility studies and brand positioning to capital raising/ funding advisory, transaction, and investment advisory, our experts are here to support our clients at every step. Our diverse backgrounds and professional qualifications include in-depth training in international hospitality management and business, with credentials from prestigious institutions and brands like Cornell University, EHL Business School in Lausanne, CIM (UK), FRICS, CPM, Hilton, One & Only, and The Ritz Carlton, among others. Together, we ensure that each project aligns with global standards while honoring local contexts. Whether working with local partners, local or international investors, international hotel brands, government partners, or stakeholders, our team combines strategic vision with operational expertise to build thriving hotels that elevate Africa’s hospitality landscape. Apiyo Aloo C.E.O/ Managing Partner Africa Stephan Killinger Senior Partner Asset Management Europe Liaison Yohannes Paulos Senior Partner Hospitality Advisory USA Liaison Mamuodou Fadil Senior Partner Hospitality Advisory Francophone Liaison Patrick Katabua, FRICS Senior Partner Transaction Advisory South Africa Liaison Andreas Williams, MBA Senior Partner Business Development UK Liaison Ifeanyi Asiodu, FCIM Senior Partner CRE Strategic Advisory West Africa Liaison Lilian Muthoni Associate Advisory Support Services Africa Get Started with Us Our Partners & Clients.

Ankara & Lustar is a bespoke White-Lable, full-service, independent hotel development advisory & CRE consulting firm with decades of collective experience in Africa. Our Services Ankara & Lustar is a bespoke White-Label , full-service, independent hotel development advisory & CRE consulting firm with decades of collective experience in Africa & the Indian Ocean Islands, securing funding for hotel projects in partnership with international and regional brand operators and successfully representing investors buying and selling hotel assets. Our priority is delivering sustainable market research-led hotel investment strategies and solutions to achieve our partner's long-term interests, collectively having delivered 30+ hotel projects in the continent with 20+ internationally branded and independent hotel properties repositioned and successfully raised approximately US$ 350 million, both equity and debt for various projects in Africa on behalf of our partners/investors and developers, in addition, we have successfully signed international and regional hotel brand operators to specific properties across Africa in 2024. SERVICES OUR SERVICES CAPITAL RAISING/ FUNDING ACQUISITION & DISPOSAL BRAND/OPERATOR SELECTION MARKET & FINANCIAL FEASIBILITY CONCEPT BRAND DEVELOPMENT PRE-OPENING TURN AROUND/ REPOSITIONING HOTEL DEVELOPMENT FINANCIAL ADVISORY Discover More Connect with Ankara & Lustar Are you stuck with your hotel development project or need funding or an international or regional brand operator ? Or you want to sell your hotel ? Get in touch with us today Get in Touch

Need funding for your hotel or commercial real estate project or a market feasibility and financial analysis, need a hotel brand operator to manage your hotel? get in touch with us today. CONTACT US Ankara & Lustar Advisory Your Full Name Your Email Service required Message Submit Thank You for Reaching Out! Email Us Make Enquiries : info@ankara-lustar.com Hotel Capital Raising: funding@ankara-lustar.com Hotel Development: development@ankara-lustar.com Hotel Advisory: advisory@ankara-lustar.com Contact Us Address 14th Floor, Global Trade Centre (GTC) Towers, at the intersection of Chiromo lane and Waiyaki Way, Westlands, Nairobi, KENYA, EAC. Contact +254 (0) 745 222 777 info@ankara-lustar.com Opening Hours Mon - Fri 9:00 am – 5:00 pm Saturday 9:00 am – 2:00 pm

Over the last decade, we have successfully delivered 30+ hotel advisory projects and raised close to US$250 million in debt and US$170 million in equity for various projects across Africa within the last two years. We have achieved this through market-led data research, a global link to funding partner institutions, strong partnerships with leading regional and international hotel brand operators, and a deep understanding of the African hotel development landscape. Advisory Projects Over the last decade, we have successfully delivered over 30 commercial real estate projects, including hotel advisory projects, and raised close to US$210 million in debt and US$170 million in equity for various projects across Africa within the past two years. Our core focus is on delivering a 94% success rate for our partners who trust us with their hotel projects. We have achieved this through market-led data research, a global link to funding institutions, strong partnerships with leading regional and international hotel brand operators, and a deep understanding of the African hotel development landscape, with a pipeline of approximately US$450 million across Africa. Get in Touch Hyatt Regency Abuja, Nigeria Capital Raising Mandate - Private Equity & Debt A 145 key, US$43 million Upper-upscale full-service greenfield hotel project mandated to carry out an update on the market and financial feasibility and raise capital (equity) for the project completion which is currently at 40%, EOD 2026. Kotoka International Airport Hotel, Accra, GH Feasibility, Capital Raise & Hotel Operator Selection A 252 key, US$81 million Upscale full-service greenfield MUD with a hotel, branded resi & retail project mandated to carry out a market and financial feasibility, operator search, negotiation and signing, and successful equity capital raised. EOD 2028. 131 West Street, Sandton Jhb, RSA Feasibility & Capital Raise for Debt & Equity A US$400 million ultra-luxury MUD with a hotel, branded serviced apartments, and a vibrant retail fashion district development nestled in the heart of Sandton, Johannesburg, this MUD marvel defines sophistication in Africa’s most exclusive square mile. Marriott Executive Apartments, Lagos, Nigeria Feasibility, Brand Operator Selection & Capital Raise 172 key extended stay concept market and financial feasibility, international brand operator selection, and signing and capital raising mandate. Our feasibility study led to the conceptualization of the project, facilitating ease in attracting funding. Hilton Garden Inn & Embassy Suites by Hilton Capital Raising & Hotel Brand Operator The first dual-branded hotel in a bustling city with both standard rooms and branded services apartments, a 1,000 pax conference capacity within key demand generators, govt office, diplomatic community and the international airport. The Ocean Pearl Zanzibar, TZ Capital Raise & Brand Operator Signing A 238 keys, US$ 71 Million project, a first-of-its-kind luxury resort & residence development in the virgin beaches of Zanzibar, where we delivered a bankable feasibility, international brand operator signing, and capital raising mandate - The Movenpick Hotel Addis Ababa, Ethiopia Capital Raise & Brand Operator Signing A 229 key hotel development project, with a world-class ballroom barely 8 mins drive from the Airport, where we delivering a debt facility to finish the hotel and sign the brand operator to manage the hotel adjacent to the stadium. Park Inn by Radisson Kigali, Rwanda Confidential Hotel Sale Mandate - Seller side Hotel Sale Mandate - 161 keys international brand operator, confidential ticket price, carried our a market repositioning for the hotel partnered with a sale strategy for the hotel located in the urban prominade of Kigali city centre. Wabe Shebelle Hotel Addis Ababa, Ethiopia Rebrand, Renovation & Capital Raise Located strategically in downtown Addis CBD, this 116 key hotel built in the late 60s required a repositioning to improve its performance and ROI. A detailed renovation and rebranding to an international brand operator covered by debt. Sandton 2.1.9.6 & Sandton Oasis, Jhb, RSA Hotel Brand Operator Selection & Capital Raise 210 key Hotel & 156 key serviced apartment brand operator selection -A world-class project with 3 acres of lifestyle in the heart of Sandton’s financial district: We managed to sign an international luxury brand operator spearheading its first location in Africa Emara by Olesereni, Nairobi, Kenya Confidential Transaction Advisory Nairobi's leading lifestyle conference hotel has 148 well-appointed rooms and conference facilities of up to 400 pax, and it is within 10 minutes of JKIA, overlooking Nairobi National Park. Our mandate is a confidential transaction advisory for the owner side. The Grand Hotel, Abidjan, Côte d'Ivoire Succesful Capital Raise & Hotel Operator Selection 300 key Upscale hotel development project mandated to carry out the feasibility study for the project, sign and international brand operator and successfully raised US$ 34 million mix of debt and equity for the development of the project. Park City & Sky Plaza, Accra, Ghana Feasibility Study, Concept Development & Capital Raise Mixed-use development with grade-A office spaces with ample parking, a shopping district, and an American restaurant franchise brand, with 74 branded serviced apartments managed by an international brand. Almadies Royal Dakar, Senegal Successful Capital Raise, Brand Operator Signing A 145-key US$ 52 million upscale resort on the shores of Dakar, successfully closed US$ 36 million equity covering the shortfall required for project collection and securing a local mezzanine facility with suitable rates. Signed by an International brand operator. Somerset Residence Admiralty Way, Lagos, NG Confidential Transaction Advisory - Buyer side A 135-key hotel & residences conveniently tucked in the premium promenade in Lekki Phase 1, Off Admiralty Way, Lagos, Nigeria. With premium guest amenities, a wellness Spa, executive business lounge and managed by the world-renowned Ascott brand. Connect with Ankara & Lustar Are you stuck with your hotel development project or need funding or an international or regional brand operator ? Or you want to sell your hotel ? Get in touch with us today Get in Touch

We provide hotel development advisory services including market feasibility and financial analysis, hotel funding, and brand operator selection, hotel acquisition and disposal transaction advisory for both hotel buyers and seller side. Our Services Ankara & Lustar understands the challenges in developing/ owning or investing in a hotel in Africa, let alone a portfolio; with extensive industry knowledge and experts with both global and local experience, we have brought innovative and creative solutions to your doorstep. Contact us today and "Let Your Interest be Our Priority." Get in Touch Market & Financial Feasibility Hotel Feasibility Study offers an in-depth analysis of opportunities, considering many aspects of a development project that can impact its success and positioning the project to maximize its ROI or achieve other objectives as desired. Preparing conclusive development recommendations backed by comprehensive economics and sensitivity to risk is required for any successful project. Acquisition / Disposal Property transactions are complicated, and buying or selling a hotel is no different. If they become drawn out during due diligence, then costs can quickly spiral, damaging both sides' confidence in a deal and, in the worst-case scenario, prohibiting completion. We have vast experience with successful outcomes supporting both purchasers and vendors, therefore protecting value. Capital Raising - Debt/ Equity Raising debt or equity capital can be a daunting challenge for any hotel developer, especially in Africa. We have a strong track record in capital raising in Africa, successfully securing capital for more than 15 hotels, and we can support you with all necessary services to optimize your prospects of closing the finance you require.We have structured and secured equity and debt for more than ten hotels in the region. Brand/Operator Selection Our Operator Selection services assist owners in selecting a suitable brand and operator whose objectives are best aligned with the owner’s goals for a proposed or existing property. We negotiate the best performance terms aimed at protecting the ROI long term. Branding, management contracts, and negotiations are the difference makers between constant struggles in owner/operator relationships. Pre-Opening There is a lot to consider and organize during this critical period leading up to the launch of your new hotel. As part of our hotel management services, we can help you with pre-opening planning and project management. We can take all the troubles out of your hands, setting up the operations and strategies for your new hotel. Hotel Asset Management Hotel owners and their external stakeholders need flexibility, which results in an uncertain market. Our solutions cover all aspects of trading a business and bring meaningful financial growth, team development, and product enhancement. Whether a distressed hotel needs to turn around under-performance or growth planning, we ensure the overall objective is achieved. Brand Development Our hotel branding process strategically defines the brand's philosophy and marketing positioning to effectively communicate its unique experiential concept. Our primary objective is to establish a distinct identity and atmosphere for the accommodation, differentiating it from competitors and increasing its perceived value, integrated with essential marketing components. Turnaround / Repositioning Ankara & Lustar has an established track record of turning around underperforming and distressed hotels. We begin with an in-depth analysis of your hotel’s current situation, identifying key areas of underperformance and potential growth. Then, we collaborate with you to develop a clear, actionable plan targeting investment growth revenues, achieving cost control, and driving profit margins. Connect with Ankara & Lustar Are you stuck with your hotel development project or need funding or an international or regional brand operator ? Or you want to sell your hotel ? Get in touch with us today Get in Touch