The hospitality industry was not spared from the riots and violence that took place in January this year due to fuel hikes, with the African Sun recording a weak occupancy during the period.
After an announcement of a fuel hike by President Emmerson Mnangagwa, Zimbabwean citizens went riotous against the procedure resulting in the internet shut, probably the first ever in the Southern African nation.
“Occupancies for the first two months of 2019 were weak compared to same period last year as January was affected by violent strikes and demonstrations,” African Sun Limited Chairman, Alex Makamure said
“This resulted in cancellations of bookings, mainly from corporate customers and deferrals without concrete dates.”
Despite disturbances in the past, the company that owns hotels in Harare, Bulawayo and other towns of the country has hopes for some improvements.
“Going forward, we anticipate the business to improve supported by the positive changes and sentiments brought about by the Economic Stabilisation Programme (“ESP”), and the recently announced monetary policy statement,” Makamure said.
“In addition, the Group has embarked on a refurbishment plan to ensure that we continue to offer value to our guests and improve our yields.”
African Sun Limited made a $10 135 859 profit last year, a 110% growth up from $4 816 523 recorded in 2017.
The Group also recorded a 32% growth in revenue for the year ended December 2018 to US$68.50 million, up from US$51.82 million recorded in 2017.
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