African Sun tables aggressive refurbishment initiatives

By Alois Vinga

TOP hospitality group, African Sun Limited (ASL) has tabled an aggressive refurbishment initiative which will further enhance the brand’s competitiveness on the global front.

Presenting the group’s performance for the period ended December 31 2024, ASL board chairperson Lloyd Mhishi said that in the year ahead, a number of refurbishment initiatives will be implemented.

“The group achieved notable progress in its refurbishment initiatives during the year, which primarily included the completion of public area renovations at Hwange Safari Lodge. Plans for 2025 include commencing the refurbishments of Holiday Inn Harare, Elephant Hills Resort, Troutbeck Timeshare Lodges and the second phase of renovations at The Victoria Falls Hotel,” he said.

On the downside, Mhishi said these refurbishments will prompt reduced rooms’ inventory for the group for the 2025 financial year underscoring that such strategic capital investments aim to enhance guest experiences and grow the portfolio’s market share.

Despite the mixed fortunes in the economic environment, which saw the 43% devaluation of the ZWG currency triggering exchange rate losses, the group achieved positive volume growth across all its segments.

Revenue from continuing operations at US$ 53,98 million increased by 15% compared to the prior year, supported by growth in occupancy and stronger Average Daily Rates which increased by 3% to US$ 119, compared to US$ 115 in the prior year.

Continuing operations revenue was further bolstered by the Real Estate segment’s contribution of US$ 3.02 million, primarily driven by residential stand sales. Revenue from the Group’s discontinued operations, which consists of the Great Zimbabwe Hotel, Monomotapa Hotel, and Sun Leisure Tours, amounted to USD 8.24 million.

Total Group revenue, including discontinued operations, amounted to US$ 62.22 million, representing a 14% growth from the prior year.

“As we move into 2025, we remain optimistic about the recovery of the tourism sector, building on the progress made in the local market and the ongoing rebound of international travel. The UN Tourism Organization forecasts a 5% growth in international tourist arrivals, driven by the full recovery of the Asia and Pacific markets and robust growth across most other regions,” added Mhishi.