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DAWN Properties, a property investor recently acquired by the African Sun Group, says the re-opening of the tourism sector has started yielding positive results for the country.
Businesses across the world have been affected by the slow-down in economic activity due to the Covid-19 induced lockdowns. This was particularly the case in the tourism sector, which depended on international travel.
“As at 1 October 2020, all the African-Sun run hotels are back in operation and occupancies are steadily increasing. In the short to medium term, tourism recovery in Zimbabwe is anticipated to be driven by domestic tourism,” Dawn Properties said in a trading update.
The group’s hotel revenue for the nine months ended 30 September 2020, at ZWL65.3 million, was 54 percent lower than the revenue achieved during the same period last year. This was attributed to depressed occupancies as a result of strict lockdowns imposed by the Government during the second quarter in response to the Covid-19 pandemic.
Year to date average occupancies as at 30 September 2020 stood at 16 percent compared to 41 percent recorded in prior year.
“The group witnessed an increase in hotel occupancies from the previous quarter as three additional hotels (Monomotapa Hotel, Troutbeck Hotel and Caribbea Bay Hotel) were re-opened in July and August 2020.”
Average occupancy for all the hotels for Q3 2020 was 13 percent compared to 42 percent occupancy achieved during the same period last year. The two resort hotels, namely Hwange Safari Lodge and Elephant Hills Hotel were only re-opened in October 2020.
“The operating environment during Q3 2020 under review was, however, more stable compared with the first half of the financial year mainly as a result of the introduction of the foreign currency exchange auction system and relaxation of lockdowns,” it said.
– New Ziana
Online Reporter