Rainbow Tourism Group (RTG) will sell three leisure companies to reduce losses and pay debt, the Daily News said, without saying where it got the information.
The company has $20 million of debt and reported a loss of $1.2 million in the year through December, the Daily News said. The company has a $7.5 million loan from the Africa Export- Import Bank which is financing the refurbishment of its A’Zambezi River Lodge, while a further $7 million is being spent upgrading its Rainbow Towers Hotel in Harare.
Rainbow Tourism manages 1,180 hotel rooms in Zimbabwe and Zambia, the newspaper said.
The company has $20 million of debt and reported a loss of $1.2 million in the year through December, the Daily News said. The company has a $7.5 million loan from the Africa Export- Import Bank which is financing the refurbishment of its A’Zambezi River Lodge, while a further $7 million is being spent upgrading its Rainbow Towers Hotel in Harare.
Rainbow Tourism manages 1,180 hotel rooms in Zimbabwe and Zambia, the newspaper said.
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