Africa-Press – Zimbabwe. HOSPITALITY concern, Rainbow Tourism Group (RTG) saw its market capitalisation surge by US$10,62 million in the first five days of the month, as it pressed ahead with refurbishments at the Montclair Resort & Conference Hotel (Montclair) in Nyanga.
Listed on the Zimbabwe Stock Exchange, RTG closed August with a valuation of US$75,32 million, a 25% rise from July 31.
By last week Friday, the group’s worth had climbed further to US$85,94 million, reflecting growing investor confidence spurred by its recent Cape Town property acquisition in South Africa and the Montclair refurbishment programme announced last month.
The Montclair project is already being linked to a major industry event, the Sanganai/Hlanganani World Travel Expo.
Speaking on the refurbishments, RTG chief executive officer Tenda Madziwanyika said the timing coincided with the expo, scheduled to run from tomorrow through to Friday.
“We are pleased that Sanganai is taking place in the Eastern Highlands this year. It has come to this region at a time when we have extended our geographic footprint to this scenic tourism destination with the acquisition of the Montclair Hotel & Casino now rebranded to Montclair Resort & Conference,” he said.
“This gives us a chance to showcase our refreshing service to the buyers and those visiting Sanganai.
“Our tour operations subsidiary, Heritage Expeditions Africa, is providing transfers, tours and activities around Eastern Highlands key attractions, such as the Mutarazi Falls Skywalk, Nyangombe Falls, Mount Nyangani hiking and day trips to Vumba, as well as tours to the tea and banana plantations.”
RTG is hosting a group of German buyers for the expo, who stayed at the Rainbow Towers Hotel & Conference Centre on arrival and are being treated to various activities around the Eastern Highlands in a pre-Sanganai tour.
In 2024, RTG hosted buyers from the United Kingdom and France, both key source markets for the group.
“Following its recent acquisition by RTG, Montclair Resort & Conference Hotel became the seventh property in the group’s growing portfolio,” RTG said.
“With 85 guest rooms, it is the largest hotel in Nyanga, further cementing RTG’s commitment to expanding its geographic footprint and opening up the Eastern Highlands, a key tourism destination.”
RTG is refurbishing the Montclair to modernise and refresh the product offering.
“The arrival experience has been transformed by the visible and tangible lush-green well-manicured gardens. A variety of carefully selected bright blooms strategically placed around the hotel all make for a refreshing stay,” RTG said.
“Family-friendly and affordable, Montclair Resort & Conference Hotel is designed to cater to both relaxation and recreation, making it a perfect getaway for families, couples, and groups alike.
“The hotel is also a popular destination for school educational trips, offering students a safe and enriching environment for cultural discovery, environmental learning, and outdoor fun.”
The hotel is a hub for business and events.
It features a main conference venue with capacity for up to 200 delegates, along with smaller meeting rooms ideal for 30 to 60 guests.
“The vast estate has ample space for an outdoor marquee with a capacity of up to 800 guests, making Montclair a top choice destination for weddings, celebrations and corporate functions in a scenic and serene setting,” RTG said.
“Golf enthusiasts can enjoy a round at the nearby Clairmont Golf Club, which is leased by RTG, a beautifully maintained 9-hole course just minutes from the hotel.”
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