Main hotelier, Rainbow Tourism Group (RTG) has forked out a staggering US$4.4 million to refurbish its star lodge, Rainbow Towers to satisfy world class requirements.
Presenting the group’s efficiency for the total 12 months ended December 31 2020, RTG chairperson, Arthur Manase mentioned the group undertook the refurbishment of Rainbow Towers Resort in Harare throughout the first quarter of 2020.
The venture was accomplished inside three months and was the lodge’s first full room refurbishment since its building in 1985.
“The scope of works included plumbing, electrical, ceiling works, new bogs, set up of two model new visitor elevators and new in-room furnishings and fittings at a complete venture price of an equal of US$4.4 million. The lodge now presents world-leading rooms that may compete with different comparable 5-star amenities,” he mentioned.
So far, the lodge group has spent US$6.2 million in refurbishing its resorts throughout Zimbabwe inside a 12-month interval.
Comparable works have been undertaken on the Bulawayo Rainbow Resort with work involving upgrading of bogs, full substitute of the cold and warm water reticulation techniques, substitute of exterior home windows, improve of soppy furnishings in rooms and the substitute of visitor elevators.
The venture has in flip created downstream alternatives for constructing materials suppliers and scores of job seekers within the building sector.
In the meantime, throughout the interval below evaluate, occupancy for the 12 months below evaluate closed at 26% in comparison with 47% recorded in 2019.
The group posted revenues of $1.1 billion, 66% beneath $3.2 billion posted in 2019 whereas gross margins closed at 71%, barely decrease than 73% posted in 2019.
With the closure of the 2 resorts in Victoria Falls for the higher a part of 20202, the group’s efficiency was primarily sustained by its metropolis amenities.
“The group enjoys a superior location benefit as 80% of its rooms inventory sit on the business trunk of the nation – the Harare Bulawayo trunk, with optimum dispersion. Because of this, the group benefited from the residual financial exercise throughout the hospitality slowdown in 2020,” added Manase.