Tourism recovery positive for Dawn

The re-opening of the tourism sector has started to yield positive results, Dawn Properties, a property investor in the industry, has said.

Businesses across the world have been affected by the slow-down in economic activity due to the Covid-19 induced lockdown.

This was particularly the case in the tourism sector, which depended on international travel.

“As at October 1, 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 September 30, 2020, at $65,3 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 lockdown imposed by the Government during the second quarter in response to the Covid-19 pandemic.

Year-to- date average occupancies as at September 30, 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, Troutbeck and Carribea Bay) 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 lockdown,” it said. — New Ziana