Dubai-based hotel owner ASB Hospitality has made its second major investment in Zimbabwe with the US30 million acquisition of the Kingdom Hotel in Victoria Falls.
The 294-room property was one Victoria Falls largest hotels before the closure of operations at the start of 2023 due to the collapse of lease negotiations between owners First Capital Bank and the long-time operator of the hotel African Sun Limited.
An acquisition agreement was reached between First Capital and ASB Hospitality in November last year although completion of the transaction remains subject to regulatory approvals.
