Online Reporter
Nqobile Bhebhe, Zimpapers Business Hub
Global hospitality giant Accor has officially entered the Zimbabwean market with the signing of Novotel Victoria Falls, a landmark hotel development set within the world-renowned Victoria Falls, a UNESCO World Heritage Site and one of the Seven Natural Wonders of the World.
Accor said it signed the agreement at the Future Hospitality Summit (FHS) Africa that ran from June 17 to 19 in Cape Town, South Africa.
Set to open in 2028, the 111-room, purpose-built hotel will be developed under a management agreement with Eagle Real Estate Investment Trust (Eagle REIT), a development-focused REIT targeting premium assets in tourism, hospitality, health, retail, and residential sectors.
Eagle REIT is Zimbabwe’s first dollar-denominated Development REIT focusing on developing high-impact real estate assets across the hospitality, healthcare and residential sectors.
It is also the first REIT to be listed on the Victoria Falls Stock Exchange (VFEX), a member of the International Financial Services Center. The REIT is managed by Eagle Asset Management, a licensed investment manager and a subsidiary of Zimre Holdings Limited.
In a statement, Maya Ziade, Chief Development Officer for Accor’s Premium, Midscale & Economy Division in the Middle East, Africa & Türkiye, said: “This signing represents a bold step forward in our development strategy for Sub-Saharan Africa. Victoria Falls is one of the world’s most extraordinary destinations, and we are proud to bring the Novotel brand experience to Zimbabwe for the very first time. As a first mover, we see this project as a gateway to long-term sustainable growth in the country.”
The project aligns with Zimbabwe’s broader tourism recovery strategy under the National Development Strategy 1 (NDS1), which seeks to expand tourism infrastructure, diversify offerings, and attract global investment.
Mr Bevin Ngara, Managing Director of Eagle Asset Managers, the REIT’s fund managers, hailed the partnership with Accor as a milestone investment in Zimbabwe’s tourism future.
“We are delighted to partner with Accor to bring an international standard of hospitality to Victoria Falls. This project reflects our vision of investing in transformative developments that elevate tourism and deliver value to local communities and investors alike.”
With over 590 hotels globally across 68 countries, Novotel’s debut in Zimbabwe will help meet rising demand for quality yet accessible accommodation, particularly for families, nature lovers and adventure tourists.
As one of the few international hospitality brands to establish a presence in Victoria Falls, Accor’s investment is expected to bolster destination appeal, job creation, and local economic activity in the years leading to and beyond the hotel’s 2028 opening.
