Victoria Falls to get two new upmarket hotels

 Zimbabwe's premier tourist destination, Victoria Falls, is set to see the construction of two luxury hotels, valued at a combined US$114.3 million, which will significantly boost the city's hospitality offerings. According to the Zimbabwe Investment and Development Agency (ZIDA), the new developments include a US$49 million four-star hotel and a US$65.3 million five-star resort, projects expected to attract both high-end tourists and investors.

The four-star hotel, part of the Mosi oa Tunya Hospitality Real Estate Investment Trust (REIT), will be the first to list on the Victoria Falls Stock Exchange (VFEX). The property will occupy a 5.61-hectare site, offering 180 rooms, including 60 executive suites, six twin suites, deluxe restaurants, a conference center, an infinity pool, and a wildlife watering hole. The construction is anticipated to begin by the end of this year and be completed by late 2026, ZIDA stated. The promoters have already secured 51% of the funding and are actively seeking the remaining US$24 million through equity and debt financing.

"Cresta Hotels will manage the property, which is projected to yield an internal rate of return (IRR) of 16.3%. The location, coupled with the REIT listing on VFEX, makes this an attractive investment with flexibility for investors to exit via VFEX REIT units," ZIDA noted in its prospectus.

The more expansive US$65.3 million Victoria Falls Resort & Spa will be constructed through a Public-Private Partnership (PPP) between Victoria Falls City and Lamcent Capital, a private Zimbabwean company. The resort will sit along the Zambezi River and offer 160 rooms in a recently constructed, five-star facility. With a 500-year concession period, the resort is poised to become a prominent player in the local tourism industry, rivalling Zambia's Radisson Blu in Livingstone.

To date, the project has secured US$6.8 million, with promoters seeking an additional US$56 million in capital. The Victoria Falls Resort & Spa has an IRR of 12.4%, a net present value (NPV) of US$13.6 million, and a payback period of 12 years, making it a compelling long-term investment, ZIDA added.

With Cabinet approval and asset status from the Insurance and Pensions Commission (IPEC), the project is set to appeal to pension funds, as investors will have a voice in the board's decision-making. The project also includes buyback assurances, with promoters offering to repurchase up to 25% of investors' equity upon exit.

Tourism, a priority growth sector in Zimbabwe, is expected to drive economic transformation under the National Tourism Recovery and Growth Strategy, which aims to expand the tourism economy to US$5 billion by 2025. The two hotels align with this strategy and are expected to help Victoria Falls meet the demand for luxury accommodations while enhancing Zimbabwe's status as a top-tier global tourism destination.

Source: Victoria Falls to get two new upmarket hotels (08/11/24)

Victoria Falls masterplan open to scrutiny

VICTORIA Falls City Council has completed the crafting of a new masterplan and opened it for scrutiny with priority being put on balancing conservation and infrastructure development.

The move buttresses President Mnangagwa’s launch of the “Call to Action — No Compromise to Service Delivery” blueprint, which provides guidelines for local authorities to ensure they provide efficient services that are in line with Vision 2030.

In the “Call to Action,” the President chairs a bi-annual review meeting to assess the performance of all local authorities in a move aimed at improving service delivery in towns and cities.

All local authorities are now obliged to adhere to a stipulated minimum threshold of service delivery before the approval of their budgets.
According to the blueprint, the quality of service provision by local authorities should be in line with an upper-middle-income economy.

Most local authorities have been operating without masterplans while those that have, were reportedly using outdated local plans.
Victoria Falls City Council also successfully finished drafting its 2025 budget, which was presented to the full council recently as the local authority strives to meet deadlines and targets set by the Government.

Speaking to journalists, Victoria Falls town planner, Ms Ntombizami Ncube, said the guiding document was now open to public scrutiny.

“Our masterplan is now a public exhibition. We have already advertised two issues and we are waiting for the third issue,” she said.

“We started last year and managed to meet the deadline of June 30. It was submitted to the Department of Spatial Planning for review and put on public exhibition.

“The masterplan will be on public exhibition for the next two months and we request all stakeholders to visit the Victoria Falls Town Planning offices or our website, all the documents are there for viewing.

“Issues that came out was the need to balance conservation of nature and development planning needs. We would want to expand, we don’t want to encroach into any restricted zones, especially the World Heritage Site, we are not touching,” she said.

Victoria Falls City is surrounded by Chamabondo National Park, Zambezi National Park and Victoria Falls National Park, which is home to the Mighty Victoria Falls, one of the natural wonders of the world.

The city was declared a Unesco World Heritage site and should be maintained in its pristine state with no disturbance to the natural environment, emphasising harmony between nature and humans.

Tourism, backed by wildlife and the environment is the cornerstone of Victoria Falls’ economy. Ms Ncube said after the display period and objections on the masterplan, a summary will be compiled and a report on the recommendations of the local authority prepared. These will be sent to the Ministry of Local Government, which will review the document for approval.

“The minister will approve and it will go on display for six weeks and during that period only issues that deal with issues of law will be dealt with. If it is felt that the document was done ultra vires then the issues will be dealt with,” said Ms Ncube.

Victoria Falls town clerk, Mr Ronnie Dube, said the local authority tried to do its processes timeously to maintain good governance.

“We are on time in terms of meeting the deadline. Technically, we can say our masterplan has been completed and this means we are a compliant local authority, particularly regarding the direction and instruction guidance, which we get from our parent ministry because when you look at the masterplan, it speaks to the ‘Call of Action’ and no compromise to service delivery as espoused by President Mnangagwa,” he said. — @ncubeleon

Source: Victoria Falls masterplan open to scrutiny (05/11/24)

Victoria Falls tourist numbers surge 30pc (Zimbabwe)

DESPITE the challenges posed by the El Niño-induced drought, tour operators and industry authorities in Victoria Falls are reporting a remarkable surge in business.

Contrary to alarming social media claims that one of the Seven Wonders of the World is drying up, both the iconic water curtain at the main falls and upstream boat cruise activities have seen significant increases in visitor numbers over the past few months.

The Zimbabwe Parks and Wildlife Authority (ZimParks), responsible for the Victoria Falls rainforest and Zambezi National Park, has revealed an impressive 30 percent rise in visitors over the last three months compared to the same period last year.

This surge underscores the enduring allure of Victoria Falls, as tourists continue to flock to this natural marvel, defying the drought’s impact and reinforcing its status as a premier travel destination.

(November 2024)

Statistics released by the Zimparks show that about 1 300 visitors have been touring the rainforest daily in the past three months, representing a 30 percent increase from last year’s figures.

From August, September and October comparing the 2023 and the 2024 statistics, they show that on a daily average, 1 000 people were visiting Victoria Falls in 2023 as compared to an average of 1 300 visiting in 2024.

Tourism Executive and Shearwater Adventures Public Relations Manager, Dr Clement Mukwasi said it is normal that the Victoria Falls goes through various seasons, with the current period referred to as the low water season.

However, Dr Mukwasi said the city and the tourism business is doing well with upstream activities and the curtain of water still giving visitors the much anticipated spectacular experience.

“The water levels in the Zambezi River change from season to season. We are in what is called the low water level where we do not do activities such as rafting in the lower Zambezi. However, above the falls, the sunset cruise business is booming. We have multitudes enjoying the cruises on the Zambezi. The water depth that allows us to do cruises is more than 20 metres along the whole stretch where the activity is done.

“However, the speed at which such water plunges over the falls becomes very slow during the low water period. The curtain of water on the main falls is still there on the Zimbabwe side. On the Zambian side, the terrain is a bit higher and during this period, tourists go there to see the basalt rocks and access other top of the gorge areas that are naturally not accessible during the high water period,” said Dr Mukwasi.

Tourism Business Council of Zimbabwe Regional representative, Mrs Barbara Murasiranwa-Hughes also weighed in saying the falls are not dry.

“The Falls are not dry. They are still thundering. Every year, the Zambian side of the falls dries up, which is not new to this year and that is why people walk on dry rocks to enjoy the devil’s pool activity on the Zambian side.

This year, maybe because of the drought, there has been less water coming from the catchment area, so comparing year on year, the curtain has been smaller. “Tourism is doing great and activities like boat cruises are happening daily to show that there is water on the Zambezi River. International, regional and local tourists are still coming to view and enjoy the falls. “It is business as usual and we encourage all to come and see for themselves,” said Mrs Murasiranwa- Hughes.

Source: Victoria Falls tourist numbers surge 30pc  (03/11/24)