The Aga Khan Fund for Economic Development’s Tourism Promotion Services (TPS) Eastern Africa, the operator of Serena Hotels, has posted a KES870.87 million net profit for the financial year ended December 2023, marking a 2.3 times jump from the previous year on increased business. TPS said its portfolio of 22 hotels, resorts, safari lodges, and camps within the Eastern Africa region, regained its footing, supported by a return of confidence in the foreign leisure and corporate market segments. “This was further complemented by significant growth in business volumes from both domestic and regional markets spanning leisure, corporate travel, events, and functions. Notably, Serena City hotels continued to be preferred venues for high-profile events and governmental and diplomatic functions,” said TPS in a commentary accompanying the financial results.