RTG upgrades hotels

HOSPITALITY group, Rainbow Tourism Group (RTG) has invested $1,4 million in upgrading its various hotels across the country to improve ambience and maintain standards.

RTG chairman Sijabuliso Biyam said the capital expenditure was mainly funded from internally generated cash flows, which saw total refurbishment of the Victoria Falls Rainbow Hotel rooms completed in April this year.

“We are pleased to announce the total refurbishment of the Victoria Falls Rainbow Hotel rooms that was completed in April 2018. The response from the market has been positive and even though we lost the first four months of the year, we believe the hotel will achieve revenues which approximate prior year revenues. Soft refurbishments are being carried out across other hotels as the company continues to improve its product offering,” said Mr Biyam.

This comes as the hospitality firm is angling itself to tap into the anticipated boom in the tourism sector, which should see both domestic and foreign visitors increase at the country’s resort areas, thanks to the improving economic environment. The group says it is already seeing growth in earnings driven by increase in both local and foreign revenues.

During the half year to June 30, 2018, foreign revenues continued on an upward trajectory registering a 24 percent growth to $4,7 million compared to $3,8 million constituting a 33 percent of total revenue.