Zimbabwe’s tourism offerings include nature and culture, with an expanding meetings, incentives, conferences and exhibitions (MICE) segment appealing to business travellers and supporting a wider traveller base. This will feed through to increasing arrivals to the market, posing an upside risk to demand for tourism accommodation.
Zimbabwe offers a range of hospitality options across different price point segments such as low cost to luxury. While international chains have historically had a variable footprint in Zimbabwe, the luxury market remains dynamic, with potential for investment as the market’s tourism sector continues to evolve in line with its diversified tourism product offerings. On May 13 2024, the US-based hospitality company Hyatt Hotels & Resorts opened its Hyatt Regency Harare The Meikles hotel in Zimbabwe, following the company’s acquisition from Meikles Hotel in 2019 for USD20.0mn by UAE-based investment holding firm Albwardy. Located in the capital city Harare, the hotel is the company’s first property in the market and will include 312 guest rooms. Guests will also have access to services and amenities such as a spa, fitness facilities, meetings and conferences spaces, and a restaurant and bar. Hyatt will compete with brands such as the Victoria Fall Hotel, the Rainbow Towers Hotel & Conference Centre and the The Elephant Hills Resort which appeal to high-income travellers seeking upscale hospitality options.
The country’s major source markets for arrivals include Sub-Saharan Africa (SSA), Europe, North America and Asia Pacific markets such as South Africa (ranking first), the US (fifth), UK (sixth) and Mainland China (eighth) and India (15th). We predict the latter two markets will have strong departures outlooks, supporting arrivals growth to Zimbabwe over the medium-to-long term (2024-2030). South Africa will represent 24.0% of total arrivals (or 491,040 arrivals). The US and the UK will account for 5.2% of total arrivals (106,400 arrivals) and 3.7% of total arrivals (75,520 arrivals) respectively, while the proportion of arrivals from Mainland China and India will account for 2.7% of total arrivals (55,250 arrivals) and 0.9% of total arrivals (18,220 arrivals) respectively.
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