By 
Hospitality group African Sun has announced that it has put its iconic Crown Plaza Monomotapa Hotel up for sale, as part of its strategy to recapitalize and improve its primary portfolio.
In a cautionary statement to shareholders and investors, the company revealed that negotiations are ongoing for the disposal of a selection of hospitality assets, with the Crown Plaza Monomotapa Hotel being the latest addition to the list.
The decision to sell the Crown Plaza Monomotapa Hotel is in line with African Sun’s previously announced plans to unlock value by disposing of certain assets. The company aims to use the proceeds from the sale to recapitalize and strengthen its core business.
“The sale of the Crown Plaza Monomotapa Hotel is a strategic move to optimize our portfolio and focus on our core assets,” said a spokesperson for African Sun. “We are confident that this decision will ultimately benefit our shareholders and stakeholders.”
The Crown Plaza Monomotapa Hotel, located in the heart of Harare, has been a flagship property for African Sun. However, the company’s decision to sell the hotel reflects its commitment to adapting to changing market conditions and prioritizing its core business.
The sale of the Crown Plaza Monomotapa Hotel is subject to various regulatory approvals and is expected to be completed in the coming months. African Sun has assured stakeholders that it will provide regular updates on the progress of the sale.
Comments