Zimbabwe’s Rainbow Tourism Group invests $5.6m in Cape Town hotel acquisition – The Zimbabwe Mail

📅 Published: August 26, 2025

📰 Source: thezimbabwemail_enhanced

Curated by AllZimNews.com

According to the group, the acquisition is aligned with its strategy to diversify and expand beyond Zimbabwe, with discussions underway with global hospitality brands to manage the property. “The redevelopment of the property into a modern, fully operational hotel will follow international brand standards to ensure world-class design, guest experience, and service delivery,” Mari added.

To finance the acquisition, RTG has secured a $6 million loan facility from a Zimbabwean financial institution.

The loan, which carries a fixed annual interest rate of 12. 5% over five years, is expected to increase RTG’s gearing ratio from 9% at the end of 2024 to around 32% after the transaction.

Located on a key route into Cape Town’s Central Business District, the property offers high visibility and is within walking distance of the V&A Waterfront, the Cape Town International Convention Centre (CTICC), the DHL Cape Town Stadium, and the Bo-Kaap tourist district.

Its proximity to the CTICC, Mari noted, makes it well-positioned for the lucrative Meetings, Incentives, Conferences and Exhibitions (MICE) market, while its location near cultural, culinary, and leisure attractions will strengthen its appeal to both local and international tourists. 🔗

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