Old Mutual to build four-star hotel in Victoria Falls
Business Writer
Property giant, Old Mutual Zimbabwe, through its life assurance arm, Old Mutual Life Assurance Company Zimbabwe (OMLAC), is set to construct a four-star hotel in Victoria Falls city, a Government minister revealed on Tuesday.
The deal comes as Government is working on a feasibility study for the development of bulk infrastructure in the resort city.
Victoria Falls has been designated as a Special Economic Zone, and the feasibility study will inform the viability of the proposed economic activities and infrastructure needs.
To finance and undertake the feasibility study, which will be conducted in the Masuwe Area of the Victoria Falls Economic Zone, OMLAC reportedly agreed to meet the costs amounting to US$430 948,29.
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VICTORIA FALLS,
(CAJ News) – THE multimillion dollar hotel that is the latest such facility in the prime resort town is set to open its doors in the Victoria Falls in July.
Spencers Creek is building the Palm River Hotel on the edge of the Zambezi River, at a cost of US$24,6 million.
The 71-room four-star hotel, built in partnership with Old Mutual Zimbabwe, targets high end travelers to Zimbabwe’s tourism capital.
Spencers Creek already runs Ilala Lodge Hotel group, another luxurious facility, in the town.
Heather Kay, the Ilala Lodge general manager, said the new hotel would comprise 60 deluxe rooms, two deluxe suites, two honeymoon suites, two family suites, three executive suites, one presidential suite and one Palm River Villa inclusive of three bedrooms.