Hotel group, African Sun Limited (AfSun), is selling Great Zimbabwe Hotel and associated hotel business, located in Masvingo, for US$4,2 million to the Mewame Family Trust, as part of capital-raising initiatives to refurbish several other hotel properties it owns.
AfSun, in an announcement to shareholders, said it has enjoyed a considerable turnaround in fortunes over the past four years post the Covid-19 pandemic, with several changes at the executive level over the same period.
“To expedite the refurbishment of several of the portfolio’s primary hotels, the board deemed it necessary to complement capital-raising initiatives by selling selected assets, including The Great Zimbabwe Hotel, which has been a marginal contributor to the…
