By Alois Vinga
LEADING hospitality group, African Sun (Asun) has officially announced plans to dispose of its flagship asset, Monomotapa Hotel in a bid to spur capital for injection in other projects.
Widely known for its distinct architecture inspired by the ancient Kingdom of Monomotapa, the top end hotel stands tall as one of Harare’s most recognisable buildings, located adjacent to the city’s lush Harare Gardens.
Over the decades, it has hosted a myriad of international and local guests, including dignitaries, corporate travellers, and tourists, making it a cornerstone in the city’s tourism and hospitality landscape.
Ending weeks of speculation, the Asun company secretary, Venon Musimbe this week made it official, revealing the decision to part ways with one of its most prized possessions.
“Further to the cautionary statements dated 10 September and 11 October 2024, shareholders and the investing public are advised that in keeping with the strategy of unlocking value, negotiations for the disposal of a selection of hospitality assets are ongoing.
“Pursuant to the above, the Company has placed the Monomotapa Hotel on the market for sale. The negotiations if successful, will constitute a “Category 1” transaction, accordingly, the Company would be seeking the approval of its shareholders at an Extraordinary General Meeting to be convened at the appropriate time,” he said
Shareholders and the investing public have been advised to exercise caution when dealing with the Company’s securities until advised of the conclusion of the said ongoing processes.
The announcement comes as Zimbabwe’s tourism sector shows signs of recovery post-pandemic, with efforts underway to boost travel and tourism infrastructure across the country.
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