The Kenyan Government is to sell its stakes in 11 hotels as part of its plan to divest state-owned assets to private investors.

The divestment includes stakes in the InterContinental and Hilton hotels, in which Kenya owns 33.83% and 40.57%, respectively.

Other hotels include The Ark, Golf Hotel, Kabarnet Hotel, Kenya Hotels Properties, Mountain Lodge, Mt Elgon Lodge and Sunset Hotel.

The hotels, which are managed by the Kenya Tourist Development Corporation (KTDC) are struggling financially, prompting the government to restructure them through sales to investors.

The Kenyan Government hopes to raise KES8bn ($99m) from the sale of the assets by the end of the year, according to Bloomberg.