Pride Mzarabani
HARARE (FinX) – Rainbow Tourism Group Limited (RTG) is set to invest approximately US$1 million in the refurbishment of Montclair Hotel & Casino once the transaction of acquiring the property is finalised.
This announcement comes on the heels of the successful refurbishment of the New Ambassador Hotel, where RTG managed to significantly reduce renovation costs through strategic planning and efficient execution.
The company highlighted that “it is in the final stages of completing a transaction to acquire Montclair Hotel and Casino”
Group chief executive Tendai Madziwanyika highlighted the company’s learning curve in managing refurbishment projects of the New Ambassador Hotel. “The initial estimates for the New Ambassador were that we would do a room for about US$16 000 a room, But we really put on our thinking caps, looked at our partnerships and a lot of what we could do on our own. And we brought that US$16 000 to US$7 000, 72 rooms.” he said.
This efficiency allowed RTG to complete the New Ambassador refurbishment for approximately half a million US dollars, a significant saving compared to initial projections.
Applying this experience to the Montclair project, the CEO expressed confidence in their ability to manage costs effectively. “Montclair Hotel and Casino is 85 rooms, It’s given, you know, it’s much more expensive, it’s got real estate, it’s got all these things. It’s got conferencing and all that stuff. But we don’t think we’ll spend much more than a million. We are now efficient,” added Madziwanyika.
The refurbishment of Montclair Hotel and Casino is expected to enhance the property’s appeal and competitiveness in the hospitality market, focusing on modernizing rooms, upgrading conferencing facilities, and improving the overall guest experience.
This strategic investment aligns with RTG’s broader strategy of growth and expansion in the hospitality sector. By upgrading its properties and optimizing operational efficiency, RTG is positioning itself for continued success in the dynamic Zimbabwean hospitality sector.
TG has invested US$26 million in hotel refurbishments over the past five years. In 2024, the Group completed a US$5.2 million renovation of the Rainbow Towers Hotel and Harare International Conference Centre (HICC).
The group is also set to invest US$1 million on a 1 megawatt (MW) solar plant at its flagship hotel Rainbow Towers Hotel.
