Brainworks reaps the benefit of Zimbabwe’s improved tourism sector
A firming in the value of the rand is likely to boost tourist arrivals from SA to Zimbabwe where the performance of weak regional currencies against the dollar led to flat room rates for hotels such as Victoria Falls Hotel, Elephant Hills and Monomotapa — all of which are run by Brainworks. In its first full-year results following the company’s listing on the JSE in October, Brainworks said on Friday that signs of a strengthening rand augured well for arrivals from SA. Even then, in the year under review, growth in hotel occupancy was recorded in all three-market segments, with the international market recording the highest growth of 29%, domestic 17% and regional 3%. The increase in traffic was strongest in Victoria Falls following the commissioning of the upgraded Victoria Falls International Hotel. Brainworks is a Mauritian, diversified investment holding company with an exclusive focus on Zimbabwe. Its portfolio offers exposure to prominent Zimbabwe-based assets in the hospital...
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