For Zimbabwe, the famous tourism global brands have lined up estimated US$20 million projects

 Friday, July 19, 2019 

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For Zimbabwe, the famous global brands related to tourism have lined up estimated US$20 million projects that should perk up room capacity by over 1 000 in Harare, Victoria Falls and Bulawayo as investor appetite keeps on growing.

 

The model of development for the projects will feature conversion of current infrastructure to hospitality amenities as well as development of new infrastructure.

 

This comes as Zimbabwe has low supply in hotels, lower than what is available in Sandton, Johannesburg, alone.

 

South African tourism consultancy firm, HTI Consulting’s chief executive officer Waynne Troughton mentioned that Zimbabwe has churned out a lot of interest from investors worldwide in tourism.

 

These are looking at the three main international destinations of the country– Harare, driven by its large corporate and Government market, as Bulawayo and Victoria Falls are considered as industrial and leisure hubs respectively.

 

All things being equal, from boutique hotels in and around Victoria Falls, there will be extra 200 rooms with a luxury positioning as Harare an estimated 500 rooms are expected to enter the market with a primarily midscale positioning.

 

Bulawayo is anticipated to have an additional 400 rooms geared towards the corporate market.

 

At present, Harare has 1 628 room capacity as Victoria Falls has 1 128 rooms with Bulawayo at 370 rooms. Mr Troughton explained the hospitality giants world over, among them the Protea Hotels, One and Only Resorts, Hilton Hotels and Resorts, TAj, Four Seasons and Bon Hotels have showed their interests in the country for new projects or conversion of already existing buildings into hotels.

 

The success of the projects is nevertheless is dependent on stability of the macro-economic environment.

 

“Sentiment has been very positive, a lot of interest was generated especially last year. Arrivals also increased last year. While there have been currency changes, I don’t think the sentiment has changed yet, we are just waiting to see how it goes before investors press the final button,” he informed The Herald Business yesterday on the sidelines of the ZimReal Property Investment Forum in Harare.

 

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