Diversified group Aujan Holdings has demonstrated its confidence in Zimbabwe’s hospitality industry with the ongoing $4 million upgrade of the Stanley and Livingstone Hotel in Victoria Falls which is set to be completed by November this year.
Victoria Falls’ first boutique hotel Stanley and Livingstone is currently undergoing major refurbishment with the investors having committed a total of $4 million for the first phase of the project.
The investment which has come at a time the destination continues to witness a rebound is another sign of confidence in the local hospitality industry.
Representative of the investors Mr Alan Bailes said the first phase of the upgrade is progressing well adding that the country’s popular destination Victoria Falls is set for a further resurgence this year.
“We are excited about the project and it will be implemented in two phases with the initial phase being the refurbishment of the property while the second phase will see the addition of ten additional suites,” he said.
The second phase of the project is expected to commence in 2020 with a total of $3 million investment earmarked for the undertaking.
Ten additional rooms are set to be constructed during the second phase.
There are fears that the country’s premier tourists destination, Victoria Falls will run short of accommodation by 2020 with calls for the country to urgently consider the addition of not less 1 500 rooms in the next three years.