22 June 2011

Vic Falls Hotel

Victoria Falls Hotel

EBITDA from hotels rose to US$3,2 million ahead of US$2,3 million made during the previous period. Cape Grace contributed US$1,7 million and the remainder came from local hotels. Occupancies in local hotels are showing strong recovery, said the group.

“Occupancy levels in 2011 were 43 percent, 45 percent and 66 percent for Meikles Hotel, Victoria Falls Hotel and Cape Grace Hotel.”

On refurbishment of hotels, the phase one of Meikles will begin around August.

Negotiations are also underway for the completion of Victoria Falls Hotel.

The group says it is further exploiting opportunities within the region through Mentor, to invest in the hotel and hospitality business.