HOSPITALITY firm African Sun Limited (ASL) selling spree of its assets continues, with the firm announcing plans to sell the Caribbea Bay Resort located in Kariba.
ASL’s Caribbea Bay Resort is located on the shores of Lake Kariba.
According to its ASL’s website, the resort, with its unashamedly Sardinian-style architecture and feel, great climate all year round, and a host of water sports on hand, is a favourite playground for Zimbabweans, as well as visitors to the country.
The sale of the hotel is part of ASL’s broader divestment strategy targeting non-core assets.
“Further to the ongoing cautionary statements, the last one of which was on April 25, 2025, shareholders and the investing public are advised that, in keeping with the strategy of unlocking value, negotiations for the disposal of a selection of hospitality assets are still underway,” ASL said in a statement.
“Pursuant to the above, the company has placed the Monomotapa Hotel as well as the Caribbea Bay Resort on the market for sale.
“The negotiations if successful, will constitute a ‘Category 1’ transaction, accordingly, the company would be seeking the approval of its shareholders at an extraordinary general meeting (EGM) to be convened at the appropriate time.”
ASL has set June 30 for finalising the sale of the iconic Monomotapa Hotel located in Harare’s central business district, which has a US$15 million asset valuation.
- Woodball spreads to schools
- Nakamba back from injury
- African Sun floats on ‘gain on bargain purchase’
- African Sun floats on ‘gain on bargain purchase’
Keep Reading
“Shareholders and the investing public are, therefore, advised to continue exercising caution when dealing with the company’s securities until advised of the conclusion of the said ongoing processes,” ASL said.
The Caribbea Bay Resort is deliberately fashioned with a Mediterranean coast ambience, an ideal base from which to explore this unique part of Zimbabwe and enjoy a sun-filled holiday in relaxed comfort.
This well-appointed resort has 83 rooms, six of which are suites.
“Tours to the nearby Kariba Dam are a big attraction, with guests who wish to get to know the history and traditions of the local Tonga people and the mysteries of the Nyaminyami, the Zambezi River god, and his ‘influence’ over the locals,” ASL’s website read.
Should sale of the resort occur, ASL’s hotel segment would include hotels operated under the InterContinental Hotel Group Holiday Inn brand, such as Holiday Inn Harare, Holiday Inn Bulawayo, and Holiday Inn Mutare.
It will also have hotels managed under local brands, including Elephant Hills Resort and Conference Centre, Hwange Safari Lodge, Troutbeck Resort and The Victoria Falls Hotel.
