African Sun Limited wants to sell two more hotels to make money for shareholders. The company already sold Great Zimbabwe Hotel for 4.2 million dollars earlier this year. Company leaders put Caribbea Bay Resort in Kariba up for sale recently. They also want to sell the famous Monomotapa Hotel in Harare. These sales help the business raise cash for future projects.
The hotel group trades on the Victoria Falls Stock Exchange. Managers told investors about the hotel sales in a recent company update. African Sun must ask shareholders to vote if the deals go through. The sales count as major transactions under stock exchange rules. Company executives plan to hold a special meeting for the shareholder vote.
African Sun still runs several other hotels across Zimbabwe. The company operates Holiday Inn Mutare, Troutbeck Resort, Elephant Hills Resort, and Hwange Safari Lodge. They rent three other hotels from different owners. These rental properties are Holiday Inn Harare, Holiday Inn Bulawayo, and The Victoria Falls Hotel. The company focuses on making smart business decisions about which hotels to keep.
The hotel group trades on the Victoria Falls Stock Exchange. Managers told investors about the hotel sales in a recent company update. African Sun must ask shareholders to vote if the deals go through. The sales count as major transactions under stock exchange rules. Company executives plan to hold a special meeting for the shareholder vote.
African Sun still runs several other hotels across Zimbabwe. The company operates Holiday Inn Mutare, Troutbeck Resort, Elephant Hills Resort, and Hwange Safari Lodge. They rent three other hotels from different owners. These rental properties are Holiday Inn Harare, Holiday Inn Bulawayo, and The Victoria Falls Hotel. The company focuses on making smart business decisions about which hotels to keep.
