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Rainbow Towers Group Set To Lose US$12 Million In Potential Revenue

3 years agoWed, 25 Dec 2019 17:14:20 GMT
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Rainbow Towers Group Set To Lose US$12 Million In Potential Revenue

The Rainbow Towers Group is set to lose about US$12 million in potential revenue due to refurbishments scheduled for the 18 of December 2019 to January 31, 2020.

RTG operations director Tichaona Hwingwiri told journalists during a media tour on Tuesday that the group chose the period due to usually low traffic of city hotel occupancies which is registered between December and February. He added:

So we took advantage of that low season to say why not close in and commit to giving the contractors space. On average, this hotel makes about US$14 million a month in terms of RTGS value, so I would say, on average, we are foregoing about US$12 million for the refurbishment period.

The group is refurbishing the hotel’s rooms at a cost of US$3 million to bring it to international business standards.

The group also revealed plans to renovate more hotels including Kadoma Rainbow Hotel and we will also start on the New Ambassador Hotel in Harare.

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