Home | Our Investments | Hospitality

Hospitality

African Sun Logo

 

African Sun dominates many of Zimbabwe’s premier tourist destinations, with hotels in 4 of the 5 National Heritage Sites.

Visit Website

Victoria Falls Hotel
Rooms
161
Hotel Rating
5
  • Operated in partnership with Meikles Hospitality (Private) Limited (50/50)
  • Affiliate of ‘Leading Hotels of the World’
  • African Sun lease expires 2031, with a further 10 year period at the option of the partnership
Prospects
  • Market share — nearly 50% of seats entering Victoria Falls Airport
  • Airport upgrades to drive occupancy rates – reported 42% increase in weekly capacity in 2017
  • Victoria Falls Hotel Q1 2017 already 12% (6 p.p.) higher than Q1 2016
  • Modern accommodation comprising mix of rooms and suites
  • Resilient tourist mix

Visit Website

kingdom hall
Rooms
294
Hotel Rating
3
  • Legacy managed
  • African Sun lease expires in 2021
Prospects
  • Market share - nearly 50% of seats entering Victoria Falls Airport
  • Airport upgrades to drive occupancy rates – reported 42% increase in weekly capacity in 2017
  • Victoria Falls Hotel Q1 2017 already 12% (6 p.p.) higher than Q1 2016
  • Modern accommodation comprising mix of rooms and suites
  • Resilient tourist mix

Visit Website

elephant hills
Rooms
276
Hotel Rating
4
  • Owned by Dawn Properties
  • Independent property valuation: US$27.4m
  • Legacy managed
Prospects
  • Modern accommodation comprising mix of rooms and suites
  • Resilient tourist mix
  • Redevelopment at hotels (conferencing facility and Kingdom and 18-hole Championship golf course at Elephant Hills and potentially 40 rooms at Victoria Falls)
  • Continuous growth of the Asian economy (significant contribution of arrivals)

Visit Website

Monomotapa Hotel
Rooms
243
Hotel Rating
4
  • Owned by Dawn Properties
  • Independent property valuation: US$19.4m
  • Legacy managed
Prospects
  • Expansion of the Monomotapa hotel resulting in new state of the art restaurant, conferencing centre, gym and more parking space
  • Outdoor food and beverage development (in the park) at Monomotapa Hotel

Visit Website

Holiday Inn Harare
Rooms
201
Hotel Rating
3
  • Lease expires in 2031, with an option by African Sun to extent the lease for a further 20-year period
  • IHG franchise agreement
Prospects
  • City hotels benefit from high occupancies in election years (2018)
  • Hotels benefit from association with the Legacy brand, which will spur regional and international market growth
  • Leveraging on the Holiday Inn brand to attract international and domestic business travelers

Visit Website

Holiday Inn Mutare
Rooms
96
Hotel Rating
3
  • Owned by Dawn Properties
  • Independent property value: US$5.0m
  • Central Mutare – previously known as Amber Hotel, re-branded to Holiday Inn Mutare (June ’17)
  • IHG franchise agreement
Prospects
  • City hotels benefit from high occupancies in election years (2018)
  • Hotels benefit from association with the Legacy brand, which will spur regional and international market growth
  • Leveraging on the Holiday Inn brand to attract international and domestic business travelers

Visit Website

Holiday Inn Bulawayo
Rooms
157
Hotel Rating
3
  • Lease expires in 2033
  • IHG franchise agreement
Prospects
  • City hotels benefit from high occupancies in election years (2018)
  • Hotels benefit from association with the Legacy brand, which will spur regional and international market growth
  • Leveraging on the Holiday Inn brand to attract international and domestic business travelers

Visit Website

Carribea Bay
Rooms
83
Rating
3
  • Owned by Dawn Properties
  • Independent property value: US$3.8m (including timeshare units)
  • Adjacent to one of four largest man-made lakes world-wide
  • Only sizeable hotel, excluding lodges, on Kariba mainland
Prospects
  • Prime locations
  • Refurbishments expected to drive income
  • 40 additional rooms at Carribea Bay Sun Resort

Visit Website

Great Zimbabwe Hotel
Rooms
47
Rating
3
  • Owned by Dawn Properties.
  • Independent property value: US$1.65m.
Prospects
  • Prime locations
  • Refurbishments expected to drive income
  • 150+ rooms rebuild at Great Zimbabwe

Visit Website

Hwange Safari Lodge
Rooms
100
Rating
3
  • Borders on the Hwange National Park, some 150km south of Victoria Falls
  • Owned by Dawn Properties
  • Independent property value: US$2.54m
  • Legacy managed
Prospects
  • Prime locations
  • Refurbishments expected to drive income
  • 150+ seater conferencing facility at Hwange Safari Lodge

Visit Website

Troutbeck Inn
Rooms
70
Rating
3
  • Owned by Dawn Properties
  • Independent property value: US$7.8m (including timeshare units)
  • Legacy managed
Prospects
  • Prime locations
  • Refurbishments expected to drive income

Visit Site