RTG to preserve value through expansions
Hospitality group Rainbow Tourism Group said it is considering various options that are designed to increase value for shareholders through various expansion programs across all its operations.
Rainbow Tourism Group (RTG) board chairman Douglas Hoto said, “Expansion of the group’s hotels portfolio in carefully selected areas around Zimbabwe will help the group increase value for shareholders.
“A focus on technology and digitisation through the activation and expansion of the Gateway Stream web and mobile application and a focus on expanding the Group’s reach in the tourism value chain through investment in the tour operations arm Heritage Expeditions Africa.”
According to RTG, the outlook is guided by the conviction that macroeconomic infrastructural investments will continue to be driven by the government.
“The group is pursuing several strategic initiatives as defined in its 5-year strategic plan that runs till 2027 and strategies contained in the 5-year plan are aimed at propelling the business to greater heights,” said Hoto.
RTG is pursuing the expansion of the existing rooms stock in Zimbabwe and beyond, investment in tour operation activities and the promotion of various destinations around Zimbabwe and an earnest drive to penetrate Africa using the Gateway Stream platform.
The group said it will continue to focus on the improvement of existing products to world-class standards.
In the meantime, the company seeks to benefit from the election season as its hotels have been subject to occupancy during such periods in the past.
RTG chief executive officer Tendai Madziwanyika said, “Zimbabwe will hold its general elections in 2023. The group is set to take full advantage of the opportunities presented by the election season. Heritage Expeditions Africa will provide transfers and activities while hotels are geared to meet the accommodation and meal requirements of institutions and individuals alike that will be involved in the elections.”
Over the years the Rainbow Towers Hotel and International Conference Centre has been used as the National Command Centre for the elections and these elections will be no exception.-ebusinessweekly
