Wednesday, July 4, 2018
Zimbabwe’s hotels are choc-a-bloc with the rise in occupancy rates since January with focus now being towards mobilisation of capital to expand existing projects.
The rise in foreign and local tourism arrivals coupled with increased meetings and investment conferences has seen the hospitality industry recording above market expectation profits.
The move has even seen some Zimbabwe Stock Exchange listed hotel firms even declaring dividends to their shareholders or investors for the first time after years of experiencing limited earnings.
“We shall do our best to unlock value in this sector for the benefit of all relevant systems and key sectors of this economy in the near future,” said some of the players in the industry.
The tourism sector which is key to economic growth continues to be on a rebound with the hospitality companies experiencing increased revenue inflows.
Players in the industry said business confidence being brought by the new dispensation has seen average occupancy rates or levels hovering at an average of 70 percent with plans being in progress to refurbish existing facilities.
Source:- Zimbabwe tourism
Tags: Zimbabwe Tourism
