{"id":176992,"date":"2025-08-24T12:40:56","date_gmt":"2025-08-24T12:40:56","guid":{"rendered":"https:\/\/www.premium-partners.net\/?p=176992"},"modified":"2025-08-24T18:05:07","modified_gmt":"2025-08-24T18:05:07","slug":"zimbabwean-group-invests-r100-million-in-cape-town-hotel-acquisition","status":"publish","type":"post","link":"https:\/\/www.premium-partners.net\/fr\/builder\/zimbabwean-group-invests-r100-million-in-cape-town-hotel-acquisition\/","title":{"rendered":"Zimbabwean group invests R100 million in Cape Town hotel acquisition"},"content":{"rendered":"

This post<\/a> was originally published on this site<\/a><\/p>

<\/p>\n

ZIMBABWE-listed hotelier, Rainbow Tourism Group (RTG), is expanding into South Africa with a $5.6 million (nealry R100 million) acquisition of a Cape Town commercial property it intends turning into a prime hotel.<\/span><\/p>\n

RTG, which runs city and resort hotels in Zimbabwe, said it was <\/span>in the process of finalising the <\/span>acquisition<\/span> <\/span>through its South African-registered subsidiary, RTG <\/span>SA<\/span>.<\/span><\/p>\n

RTG SA has <\/span>entered into a <\/span>s<\/span>ale and <\/span>p<\/span>urchase <\/span>a<\/span>greement with<\/span> <\/span>Elleke Hospitality for <\/span>the acquisition. <\/span><\/p>\n

Under the agreement, RTG will acquire the<\/span> seven-storey commercial property located <\/span>along <\/span>Buitengracht Street<\/span> in <\/span>Cape Town.<\/span><\/p>\n

\u201c<\/span>The property, which is currently a commercial asset,<\/span> <\/span>will undergo adaptive reuse and refurbishment to transform it into a branded hotel operated under<\/span> <\/span>a leading international hospitality group<\/span>,\u201d said Tapiwa Mari, RTG company secretary.<\/span><\/p>\n

\u201c<\/span>The total consideration for the acquisition <\/span>is <\/span>roughly 9.3% of the <\/span>c<\/span>ompany\u2019s market capitalisation on <\/span>the Zimbabwe Stock Exchange (ZSE).\u201d<\/span><\/p>\n

RTG said the acquisition of the property and its development into a branded hotel was in alignment with the b<\/span>oard\u2019s overarching mandate to identify and pursue growth<\/span> <\/span>opportunities that support the <\/span>company\u2019s <\/span>long-term vision of expansion.<\/span><\/p>\n

\u201c<\/span>To ensure world-class delivery, the Company is presently in advanced discussions with reputable <\/span>international hotel brands to secure a management agreement for the acquired property,\u201d said Mari. <\/span><\/p>\n

The redevelopment of the property into <\/span>a modern, fully operational<\/span> <\/span>hotel <\/span>will be <\/span>consistent with international hospitality standards<\/span> <\/span>guided by the<\/span> <\/span>specifications and brand standards of the selected global hotel partner<\/span>. <\/span><\/p>\n

This will ensure that \u201cth<\/span>e final product<\/span> <\/span>meets world-class benchmarks in design, guest experience, and service<\/span>\u201d<\/span> delivery.<\/span><\/p>\n

RTG plans the Cape Town hotel to <\/span>stand as a competitive and high-impact asset withinthe region’s hospitality landscape<\/span>.<\/span><\/p>\n

To finance the acquisition, <\/span>RTG <\/span>has secured $6m<\/span> loan facility from a Zimbabwean finance institution at terms it said were consistent with its <\/span>existing borrowing arrangements.<\/span> <\/span><\/p>\n

The loan facility <\/span>carries a fixed interest rate of 12.5% per annum with a tenure of five years.<\/span><\/p>\n

On dr<\/span>awdown, the<\/span> loan <\/span>facility is expected to <\/span>raise RTG\u2019s <\/span>gearing ratio from 9% as at the end <\/span>of 2024 to approximately 32% post the transaction.<\/span><\/p>\n

With a premium location alo<\/span>ng a major arterial route leading into Cape Town\u2019s Central Business District (CBD)<\/span> and <\/span>offering<\/span> <\/span>high visibility and pedestrian traffic,<\/span> the acquisition property has close <\/span>proximity to key business and leisure landmarks<\/span> such as <\/span>including the V&A Waterfront, Cape Town International Convention Centre (CTICC), the DHL Cape Town<\/span> <\/span>Stadium and the Bo-Kaap tourist district.<\/span><\/p>\n

\u201c<\/span>Its proximity to the CTICC enhances its suitability for the Meetings, Incentives<\/span> <\/span>Conferences, and Exhibitions (MICE) segment, while the surrounding cultural, culinary, and recreational<\/span> <\/span>attractions boost its appeal to domestic and international tourists alike,<\/span>\u201d said Mari.<\/span> <\/span><\/p>\n

Cape Town<\/span> is a <\/span>globally acclaimed destination and a key hospitality hub<\/span> offering <\/span>strong market fundamentals, including<\/span> <\/span>high occupancy rates, well-developed infrastructure, and year-round international visitor appeal.<\/span> <\/span><\/p>\n

Mari said e<\/span>stablishing a footprint in this environment not only enhances <\/span>RTG\u2019s <\/span>regional and global profile<\/span> <\/span>but also provides direct access to global best practices in hospitality operations, customer experience,<\/span> a<\/span>nd service excellence.<\/span><\/p>","protected":false},"excerpt":{"rendered":"

ZIMBABWE-listed hotelier, Rainbow Tourism Group (RTG), is expanding into South Africa with a $5.6 million (nealry R100 million) acquisition of a Cape Town commercial property it intends turning into a prime hotel.RTG, which runs city and resort hotels in Zimbabwe, said it was in the process of finalising the acquisition\u00a0through its South African-registered subsidiary, RTG SA.RTG SA has\u00a0entered into a\u00a0sale and\u00a0purchase\u00a0agreement with\u00a0Elleke Hospitality for\u00a0the acquisition. Under the agreement, RTG will acquire the\u00a0seven-storey commercial property located\u00a0along\u00a0Buitengracht Street\u00a0in\u00a0Cape Town.\u201cThe property, which is currently a commercial asset,\u00a0will undergo adaptive reuse and refurbishment to transform it into a branded hotel operated under\u00a0a leading international hospitality group,\u201d said Tapiwa Mari, RTG company secretary.\u201cThe total consideration for the acquisition\u00a0is\u00a0roughly 9.3% of the\u00a0company\u2019s market capitalisation on\u00a0the Zimbabwe Stock Exchange (ZSE).\u201dRTG said the acquisition of the property and its development into a branded hotel was in alignment with the board\u2019s overarching mandate to identify and pursue growth\u00a0opportunities that support the\u00a0company\u2019s\u00a0long-term vision of expansion.\u201cTo ensure world-class delivery, the Company is presently in advanced discussions with reputable\u00a0international hotel brands to secure a management agreement for the acquired property,\u201d said Mari. The redevelopment of the property into\u00a0a modern, fully operational\u00a0hotel\u00a0will be\u00a0consistent with international hospitality standards\u00a0guided by the\u00a0specifications and brand standards of the selected global hotel partner. This will ensure that \u201cthe final product\u00a0meets world-class benchmarks in design, guest experience, and service\u201d\u00a0delivery.RTG plans the Cape Town hotel to\u00a0stand as a competitive and high-impact asset withinthe region’s hospitality landscape.To finance the acquisition,\u00a0RTG\u00a0has secured $6m\u00a0loan facility from a Zimbabwean finance institution at terms it said were consistent with its\u00a0existing borrowing arrangements.\u00a0The loan facility\u00a0carries a fixed interest rate of 12.5% per annum with a tenure of five years.On drawdown, the\u00a0loan\u00a0facility is expected to\u00a0raise RTG\u2019s\u00a0gearing ratio from 9% as at the end\u00a0of 2024 to approximately 32% post the transaction.With a premium location along a major arterial route leading into Cape Town\u2019s Central Business District (CBD)\u00a0and\u00a0offering\u00a0high visibility and pedestrian traffic,\u00a0the acquisition property has close\u00a0proximity to key business and leisure landmarks\u00a0such as\u00a0including the V&A Waterfront, Cape Town International Convention Centre (CTICC), the DHL Cape Town\u00a0Stadium and the Bo-Kaap tourist district.\u201cIts proximity to the CTICC enhances its suitability for the Meetings, Incentives\u00a0Conferences, and Exhibitions (MICE) segment, while the surrounding cultural, culinary, and recreational\u00a0attractions boost its appeal to domestic and international tourists alike,\u201d said Mari.\u00a0Cape Town\u00a0is a\u00a0globally acclaimed destination and a key hospitality hub\u00a0offering\u00a0strong market fundamentals, including\u00a0high occupancy rates, well-developed infrastructure, and year-round international visitor appeal.\u00a0Mari said establishing a footprint in this environment not only enhances\u00a0RTG\u2019s\u00a0regional and global profile\u00a0but also provides direct access to global best practices in hospitality operations, customer experience,\u00a0and service excellence.<\/p>","protected":false},"author":1,"featured_media":173098,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-176992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-builder"],"_links":{"self":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/176992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/comments?post=176992"}],"version-history":[{"count":2,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/176992\/revisions"}],"predecessor-version":[{"id":176994,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/176992\/revisions\/176994"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media\/173098"}],"wp:attachment":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media?parent=176992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/categories?post=176992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/tags?post=176992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}