Bulls n Bears Entrepreneurship Zone :: The journey so far: Hasnain Noorani, founder and group CEO, PrideGROUP

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Hasnain Noorani is the founder and group CEO of PrideGROUP, a Kenyan-based
conglomerate invested in diverse sectors, including hospitality, the travel
industry, transport and energy. Pride Group consists of eight individually
run companies. PrideInn Hotels, a chain of eight hotels dotted across Kenya,
are the flagbearers in the group.

Other companies in the group are: Cake City (five branches in Nairobi), the
Pride Conference Centre (Nairobi), Shawarma Express (two in Nairobi),
Paradise Convention Centre (Mombasa), Buffets of PrideInn, the Royal Kitchen
MultiCuisine Restaurants (eight in Nairobi and Mombasa), Pride Drive (two in
Nairobi and Mombasa), Pride Fuels (three in Nairobi, Mombasa and Naivasha)
and Glory Driving School in Nairobi.


1. Tell us about one of the toughest situations you’ve found yourself in as
a business owner.


It was in 2013 at the time when I was given the option of acquiring the
PrideInn Paradise Beach Resort and Spa, a 300-room beach resort with a
convention centre that can host 2,500 people, four pools, three restaurants
and three bars. And it is the only resort that has a safari-themed aqua
park. When I was presented with this opportunity, I had to put in a large
investment and at that point tourism in Mombasa was on its knees, many
hoteliers were looking at exiting Mombasa. And here I was being given an
opportunity to invest in Mombasa.

I debated about whether to go for it or not to go for it. The risk
associated with taking up such an investment was large. By 2013, we had
grown from one hotel to six, and these were small-sized hotels we had
acquired because our expansion was based on the acquisition of small, old
hotels that we would refurbish and reopen under the PrideInn brand.

I had a few discussions, deliberated and made sure to protect the company’s
downside. We eventually went for the investment and acquired the PrideInn
Paradise Beach Resort and Spa.

It was a decision people questioned, but I saw the opportunity and the gap
in the market, which was that in Mombasa everyone was focused on the leisure
market; while I have a passion for the meetings, incentives, conferences and
exhibitions (Mice) market.

I realised that Mombasa did not have a Mice facility. We wanted to create a
huge convention centre to launch the concept and the idea of congresses on
the beach and bleisure (business and leisure intertwined). And here we are
four years down the line and we are happy we took the decision to invest in
Mombasa.


2. Which business achievement are you most proud of?


When, after two years of construction at the PrideInn Paradise Beach Resort
and arranging its financing, we finally opened the doors on 15 December
2015. Just looking at the hotel was one of the most beautiful moments and it
was something that I was proud of.


 3. Describe your greatest weakness as an entrepreneur.


I just can’t stop myself from saying, “Yes, I can do this”. I believe that
while it is a strength, it is also a weakness because I end up taking too
many risks. We have lost money in businesses that have failed or businesses
we have launched without doing a thorough market study. I have learned to do
thorough research before going into a business. It’s not about what we feel
is the right product; it’s about what the guests feel is the right product.


4. Which popular entrepreneurial advice do you disagree with?


One thing that I have seen in business books is the advice to do large
feasibility studies or to appoint professional consultants to do feasibility
studies. My thought process is that the best feasibility study is the one
that I as an entrepreneur would do myself.

If I wanted to open a hotel in Kisumu, rather than appointing a company to
do a feasibility study, I would go there, visit facilities that are
available there, go to the county office, perhaps visit the clientele there
– and that would be my feasibility study.


5. Is there anything you wish you knew about entrepreneurship before you
got started?


There’s a lot I wish I knew before I started that would have protected me
from a lot of losses. Not that I regret that we have lost money because we
have learned lessons. I wish I had known the importance of proper
documentation for legalities. Getting the right documentation in place, and
making sure that once an agreement is made, documentation is signed to
ensure that everything has been recorded. This would have helped avoid
unnecessary cases and litigation, as well as unnecessary disputes in future
that would result in loss of time, money and reputation.—Howwemadeitinafrica
Hasnain Noorani

 

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