African Sun puts Monomotapa Hotel, Caribbea Bay Resort up for sale

ZIMBABWE – African Sun, one of Zimbabwe’s leading hospitality groups, has officially placed two of its prominent properties, the Monomotapa Hotel in Harare and the Caribbea Bay Resort in Kariba, on the market for sale.

This strategic move reflects the company’s efforts to optimize its asset portfolio amid evolving market conditions and operational priorities.

The Monomotapa Hotel, located in the heart of Zimbabwe’s capital, is a landmark property known for its historical significance and central location.

Meanwhile, Caribbea Bay Resort, situated on the shores of Lake Kariba, is renowned for its scenic beauty and appeal as a leisure destination.

Both properties have been integral to African Sun’s portfolio, contributing to the group’s presence in key tourism and business hubs.

According to African Sun’s recent announcement, negotiations regarding the sale of these assets are currently underway.

The company has indicated that the transaction for the Monomotapa Hotel is expected to be finalized before June 30, 2025, signaling a swift conclusion to this part of the divestment process.

Details about the Caribbea Bay Resort sale timeline remain under discussion, with no specific completion date disclosed.

This divestment aligns with African Sun’s broader strategic objectives to streamline operations, improve financial health, and focus on core assets that offer the best growth potential.

By reallocating resources, the company aims to strengthen its competitive position within Zimbabwe’s hospitality sector and adapt to shifting market dynamics.

Industry observers note that the sale of these two high-profile properties could attract significant interest from both local and international investors, given their prime locations and established reputations.

The transactions are expected to influence the hospitality landscape in Zimbabwe, potentially ushering in new management and investment approaches for the properties.

African Sun continues to emphasize its commitment to maintaining service quality and operational continuity during the transition period, ensuring minimal disruption to guests and stakeholders.

The company also remains focused on exploring new opportunities to expand and enhance its portfolio in other strategic locations.

As the hospitality industry in Zimbabwe navigates recovery and growth phases, African Sun’s asset rationalization through the sale of Monomotapa Hotel and Caribbea Bay Resort marks a pivotal step in its evolution, reflecting adaptive strategies tailored to current economic and market realities.

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