• RTG is now completing final phase of RT hotel and conference centre refurbishments
  • Hotel occupancy climbed 20% to 48% in Q1 FY24
  • - Revenues surged by 55% to $8.4M in Q1 FY24

Harare- Rainbow Tourism Group, the second largest hotel group, is set to complete the final phase of refurbishments at the Rainbow Towers Hotel and Conference Centre, a project which includes upgrading the remaining 72 rooms out of the 305 total hotel rooms, installing the remaining guest elevators, and enhancing the public areas.

The Conference Centre will also undergo significant improvements, including the installation of new carpets and chairs in the 4,500-seat auditorium.

All refurbishment works are scheduled to be completed by 31 July 2024, ensuring the venue is ready to host the Southern African Development Community (SADC) Heads of States conferences in August 2024.

The hosting of the SADC Heads of States conference will provide significant benefits to Rainbow Tourism Group. Successfully hosting such a prominent regional summit will raise the profile and reputation of the Rainbow Towers Hotel and Conference Centre, potentially leading to increased bookings and business opportunities in the future.

The influx of delegates, dignitaries, and support staff for the SADC conference will generate substantial revenue for the hotel and conference facilities, as well as the broader tourism and hospitality sector in the area. 

Meanwhile, during Q1 of FY24, the group saw improved performance, with hotel occupancies closing at 48% - a 20% increase from the 40% posted in the same period in 2023.

Revenues for the Group grew by 55% to US$8.4 million from US$5.5 million recorded during the same period in 2023 while the  conferencing business achieved a 40% growth in volumes during the quarter, driven by increased conference activities mainly in city hotels.

The tour operations subsidiary, Heritage Expeditions African (HExA), continued its growth trajectory with increased business activities, and the group's technology division, Gateway Stream, has been an enabler to the overall business volumes.

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