RTG to invest US1.6 million in capital projects

Michael Tome-Business Reporter

RAINBOW Tourism Group (RTG) plans to spend US$ 1,6 million on capital investment projects at the iconic Rainbow Towers Hotel in the capital, Harare.

Zimbabwe Stock Exchange-listed RTG said US$1,4 million of the budget would be used to build a one-megawatt solar plant, refurbish restaurants, upgrade the gym, and develop a wellness track.

The solar plant is expected to enhance energy efficiency, cut energy costs, reduce reliance on non-renewable sources and contribute to a more sustainable future.

The balance would be spent on sprucing up public areas and refurbishing the hotel’s kitchens to more welcoming atmosphere and improve functionality, among others.

Further, part of the expenditure will also go towards enhancements, including an authentic traditional food restaurant and an extension of the coffee shop into manicured gardens.

The facelift will also include an overhaul and remodelling of the rooms, among them the walls and floor tiling, new ceilings, new in-room fittings and fixtures, an overhaul of bathrooms and brand new hand and soft furnishings.

This comes as RTG last year completed refurbishments of all 294 rooms at the Rainbow Towers Hotel, including diplomatic suites.

“I would like to say we plan to spend about US$1,6 million in place,” RTG chief executive officer Mr Tendai Madziwanyika said during the group’s 26th annual general meeting in Harare last week.

“About a million of it is pursuant to our ESG and our sustainability target, where we would like to roll out about a one megawatt system of solar a grid-type system like we rolled out in Kadoma, which is working exceptionally well and has reduced our energy costs by more than 40 percent.

“The impact for the (Rainbow) Towers will be even bigger. We spend about US$50 000 per month on energy right here. And I can tell you, we are gonna save on that and that is going to hit our bottom line immediately.

“Some money will be channeled towards key focus areas that include restaurants, the gym, wellness initiatives and public areas,” Mr Madziwanyika said

He said the initiatives would improve ambiance and dining experiences, provide modern facilities for guests, and promote guest well-being, which is part of RTG’s commitment to delivering experiences that meet the evolving needs of customers.