The average room rate has also rebounded, with high single digit percentage increases against the equivalent 2019 rates. The May year to date average room rate for 2023 is 12% higher than the prior co

Diversified retail outfit, Meikles Limited Zimbabwe has expanded its property portfolio in the full year to 28 February 2023 after the completion of various projects. Meikles Limited, which is into re

Africa Sun Limited (ASUN), a hotelier listed on the Zimbabwe Stock Exchange (ZSE), has reported a loss of US$1.8 million for the half-year period ended 30 June 2023. This was primarily attributed to t

The leisure segment played a significant role in driving revenue growth, with hotels in popular tourist destinations contributing to the higher ADR. As a result, the group's revenue per available room

Meikles Limited, one of Zimbabwe's largest diversified conglomerates, has announced that it is seeking shareholder approval for the disposal of certain key assets at a future Extraordinary General Mee

Zimbabwe’s largest hotel group, African Sun Limited (ASUN) is disposing two of its hotels: the Great Zimbabwe Hotel, located in Masvingo, and the Beitbridge Express Hotel, situated in Beitbridge accor

African Sun, Zimbabwe's largest hotel group, is gearing up for a significant disposal of assets following the recent sale of two underperforming hotels for $6.9 million. This strategic move aims to op

Rainbow Tourism Group (RTG), the second-largest hotel group after African Sun, has achieved a remarkable occupancy rate of over 50% in the six months ended 30 June 2024.  This marks a historic milest

The Rainbow Tourism Group's financial performance indicates a strong recovery in the hospitality industry. Key profitability measures demonstrate the company's ability to generate revenue and manage c

Largest hotelier group, African Sun Limited's (ASUN), real estate market performed well during the first half of 2024 (1HY), with its contribution increasing from 2% to 6% and generating an additional

The iconic Monomotapa Hotel has officially been placed on the market, as announced by its parent company, African Sun. This development was disclosed through a circular posted on the Victoria Falls St

African Sun, the largest hotel group in the region, reported occupancy rates exceeding 50% reaching 55%, a 7-percentage point increase from the same period last year. This achievement played a crucia

Rainbow Tourism Group Limited (RTG), the second-largest hotelier group in Zimbabwe, has entered into a definitive agreement to acquire Nyanga's Montclair Hotel and Casino for US$5 million. The acquis

Meikles Limited's largest shareholder, John Moxon, has convened an Extraordinary General Meeting (EGM) to effect a strategic restructuring of the company's Board of Directors. The EGM is slated for De

Rainbow Tourism Group Limited (RTG) has declared  total dividend of US$2.5 million for the year ended 31 December 2024, an increase from the US$1.5 million declared in 2023, following a stellar perfor

Zimbabwe’s tourism sector has shown remarkable growth in the first half of 2024, with international tourist arrivals increasing by 27% to 751,483 from 592,567 compared to the same period in 2023 accor