African Sun Limited plans to dispose of one of its key properties, Monomotapa Hotel Crowne Plaza in Harare, and reinvest the proceeds into other group operations, including the ongoing refurbishment programme.
The hotel group said it had embarked on a strategic
alignment of its hotel portfolio to better adapt to evolving trends within the
domestic and international hospitality industry.
“The board has therefore prioritised and approved a
strategic plan that includes the selective disposal of certain non-core assets.
This approach aims to reallocate resources to more promising opportunities
within the portfolio.
“A pivotal decision in this strategy is the planned sale of
African Sun’s flagship property, the historic Monomotapa Hotel in Harare, which
celebrated its 50th anniversary in April 2024.
“The proceeds from this sale will be reinvested back into the portfolio and ongoing refurbishment programmes,” said African Sun.
The group’s other hotels within Zimbabwe are Elephant Hills Resort, The Victoria Falls Hotel, Holiday Inn (Harare), Holiday Inn (Bulawayo), Holiday Inn (Mutare), Troutbeck Resort, Caribbea Bay Resort, Hwange Safari Lodge, and Great Zimbabwe Hotel.
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