Business Reporter | 2012-02-10
The African Sun Limited (ASL) says it will complete its million-dollar refurbishment process by the end of the first half of this year.
Since January this year ASL has been introducing the new look of the InterContinental Hotel Group (IHG) franchise.
In a statement, African Sun said the exercise would ensure the group upgraded hotels in line with IHG franchise standards.
The second phase of the process will be the product refurbishment commencing with our city hotels, including the two Holiday Inns and the Crowne Plaza Monomotapa. This will be followed by the product refurbishment of the resort hotels starting with the Victoria Falls properties, the company said in a statement.
ASL said it had rebranded Holiday Inn Mutare to African Sun Amber while Holiday Inn Beitbridge would be rebranded to Beitbridge Express hotel.
The group said this was in line with the groups growth strategy where new brands will unlock shareholder value and increase profitability for the operations.
Sun Amber is a described as a mid-range city brand targeted at the business traveller and conference delegates.
The relaunch of Holiday Inn Harare and Bulawayo and the rebranding of the Mutare and Beitbridge hotels complement the successful restructuring as well as disposal of bleeding operations executed in the prior financial year to bring back the group to profitability, ASL said.
The group received a $10 million loan facility from Afrexim Bank in 2011.
ASL posted a loss of $10 million for the full year up to September 30 2011 due to losses incurred from discontinued operations.
The closure of its two loss-making entities in South Africa and losses from discontinued operations amounted to $6,6 million.
ASL also disposed of its non-core business, Hotelserve.