African Sun Limited, a number one lodge asset administration firm, is present process a major transformation, divesting from non-core belongings to give attention to new alternatives.

The Victoria Falls Stock Exchange listed firm’s flagship property, the 50-year-old Monomotapa Hotel, is up on the market as a part of this technique.

According to African Sun, the choice to promote Monomotapa Hotel is pivotal in evolving the corporate’s lodge portfolio to remain aggressive. Proceeds from the sale might be used to refurbish remaining motels, together with Holiday Inn and Troutbeck.

“A pivotal decision in this strategy is the planned sale of African Sun’s flagship property, the historic Monomotapa Hotel in Harare, which celebrated its 50th anniversary in April 2024,” the corporate stated in an announcement on Thursday.

Two lodge manufacturers, Legacy and Protea, have expressed curiosity in buying Monomotapa Hotel. African Sun plans to redirect its focus to Victoria Falls, the place investor curiosity is rising because of rising vacationer arrivals.

Earlier this month, African Sun terminated agreements to promote Great Zimbabwe Hotel and Beitbridge Express Hotel to TD Hotels & Leisure (Private) Limited. The firm is exploring different choices for disposing of those belongings.

African Sun’s strategic shift includes negotiating the disposal of further hospitality belongings, categorised as a “Category 1” transaction.

Shareholders have been suggested to train warning and seek the advice of skilled advisers because of the potential materials impact on the corporate’s shares.

The firm’s portfolio consists of notable motels resembling Elephant Hills, Caribbea Bay, Hwange Safari Lodge, and The Victoria Falls Hotel, co-run with Meikles Limited. Meikles Limited can also be present process an identical course of, disposing of belongings pending shareholder approval.

African Sun reported a 14% enhance in income to US$25.6 million within the half-year to June, pushed by firmer Average Daily Rates and improved lodge occupancy.

The firm’s strategic overhaul goals to unlock worth and improve competitiveness in Zimbabwe’s hospitality business.