Hotelier, Rainbow Tourism Group (RTG) has acquired Montclair Hotel and Casino for a purchase consideration of US$5,000,000.
The Zimbabwe Stock Exchange (ZSE) listed company advised shareholders in a statement.
RTG has acquired 100% shareholding in Briolette Services giving them a clean snap of the iconic Eastern Highlands hotel. Monte Claire is perched in Juliasdale, Nyanga a serene and mountainous environment synonymous with tourists.
Rainbow Towers and International Conference Centre
The addition of Monte Claire to its portfolio ensures the company’s footprint is spread across the country.
RTG boasts of six hotels, 878 rooms and a conference capacity of 8010. RTG is certified to the ZWS ISO 9001: 2015 standard and it operates hotels in Zimbabwe through a combination of owned and leased hotels.
The company acquires Monte Claire as a going concern with all its related assets. Monte Claire has a room capacity of 85.
The hotel sector has experienced a rebound post the covid 19 pandemic.
By acquiring Monte Claire RTG’s balance sheet and profitably will increase amid rising tourist arrivals.
