Press Release from African Sun Hotels :

Change  of  Business Model:

Please be advised that on Friday 18 September 2015 the Company announced that it had resolved to change its business model. The change means that the Company is no longer a Hotel Management Company but is now a Hotel Investment Company .

Legacy Hotels Group

To give effect to this change a Management Agreement which signifies the beginning of a new journey for the Company was signed with  the  Legacy  Hotels  Group.  The  Management Agreement  is effective  on the  1st of October  2015 and is with  respect to the following   hotels,

Elephant Hills Resort and Conference Centre
Hwange Safari Lodge
Monomotapa Hotel
Troutbeck Resort and
The  Kingdom  at Victoria  Falls Resort

Intercontinental Hotel Group (IHG)

The Intercontinental Hotels Group (IHG) Franchise will be retained for  the  Holiday  Inn Bulawayo and the Holiday Inn Harare, while Amber Mutare Hotel will soon be rebranded back to a Holiday Inn.

The Victoria Falls Hotel

The Victoria Falls Hotel managed by African Sun Limited and Meikles Limited will  continue under the current Partnership Agreement.

The remaining Zimbabwean Hotels and related units

The following hotels and related units will remain under the management of African Sun Limited through  the  Managing  Director’s office.

•    Caribbea  Bay Resort
•    Great Zimbabwe Hotel
•    Beitbridge Express Hotel
•    Harare  Sun and  Bulawayo  Sun Casinos
•    Sun Vacations

Dated 2 October 2015