Controversial MP And Former Biwott’s Aide Bankrupt.

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William Chepkut,MP Ainakboi Constituency.

A Member of Parliament (MP) From Uasin Gichu County is likely to lose his multi-million hotel in Eldoret according to bank records.

royalton hotel
The Hotel being auctioned


Ainabkoi MP William Chepkut is the owner The prestigious Royalton Hotel, that sits on a 3.68 acre piece of land has been put up for auction.

William Chepkut

The auction comes as the number of properties going under the hammer or businesses crippled by mounting debt has risen sharply in recent months.

“The hotel’s lodging block comprises a three-storey building with each floor accommodating similar eight self-contained lodging rooms,” said the auctioneers.

According to auctioneering firms, the number of property going under the hammer has risen in the last year compared with 2017, but they are struggling to find buyers.

Auctioneers said they were holding more auctions due to a growing pool of distressed borrowers whose assets have been seized by lenders.

This comes amid a credit crunch as banks slowed down lending and prolonged electoral period that hit Kenyan businesses, leading to cash flow difficulties.

This hotel contains six cottages, five related buildings and lodging blocks.

An auction notice was published last week by Watts Auctioneers, who invited potential buyers to attend a sale event mid-April.

“Under instructions received from our principals, the charges in exercise of their statutory power of sale, we shall sell the under mentioned property on Friday 12 April at 11 am near the general post office, Eldoret Town,” the auctioneers mentioned.

They further noted that a deposit of at least 25 per cent would be required from the potential buyer.

William Chepkut

The notice also stated: “The hotel’s lodging block comprises a three-storey building with each floor accommodating similar eight self-contained lodging rooms.”

The hotel contains six cottages, five related buildings and lodging blocks.

The MP could not be found for a comment on the same.

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