Monomotapa Hotel Crowne Plaza Up for Sale
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.
Monomotapa Hotel Crowne Plaza Up for Sale
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.
Meanwhile…
A contractor has been chosen to rebuild Mbare Traders’ Market following the fire that destroyed it last month.
The Government, Harare City Council and the contractor formally sealed the deal. The contractor is scheduled to start moving on-site tomorrow.
Further, a team of experts from Government, Harare City Council and Masimba Holdings will also visit modern markets in Russia to take a leaf on materials being used for the construction of modern markets.
African Sun Sells Two Hotels to Fund Refurbishments
Local Government and Public Works Minister Daniel Garwe, Harare Mayor Jacob Mafume and Masimba Holdings chief executive Fungai Matahwa signed the deal yesterday.
