Cresta Hotels bullish on H2 prospects

CRESTA Hotels Zimbabwe expects a strong second half performance buoyed by an anticipated growth in regional conferences.

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Group CEO Mr Glenn Stutchbury told a media briefing in Harare on March 17 that by virtue of chairing both Sadc and the AU, the country is bound to host critical regional events that have an impact on the tourism and hospitality industry.

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Cresta also expects a boom in guests after its current refurbishment exercise.

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Part of the refurbishments involve revamping the remaining 50 rooms as well as sprucing up the pool facilities.

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“This should push numbers,” said Mr Stutchbury.

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He also noted that the recovery of the industry is beginning to be noticeable, especially in the resort town of Victoria Falls.

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Zimbabwe hospitality sector traditionally enjoys burgeoning business activity during the festive season and towards school and public holidays.

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Currently, Cresta Oasis, which is celebrating its 40th anniversary for the next 12 months, is enjoying 100 percent occupancy, especially during mid-week, a situation Mr Stutchbury said was encouraging in a depressed economy.

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However, Mr Stutchbury said the introduction of a 15 percent VAT on hotel accommodation is expected to offset the expected growth.

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It is believed that before the introduction of the levy, Zimbabwe had a “competitive edge over Botswana and Zambia”, which already had such levies on tourism.

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