MARKET NEWS

Rainbow Tourism Group and Grand Metropolitan Hotels in joint venture

Zimbabwe’s hospitality company Rainbow Tourism Group (RTG) has entered a joint venture partnership with Grand Metropolitan Hotels (GMH) a distinguished Swiss-based European hospitality company.

The partnership was announced on the sidelines of the World Travel Market Africa in Cape Town by the two entities. The African tourism sector is set to gain significant benefits from the partnership.

The joint venture model involves the identification of hotels in strategic growth nodes and destinations across the continent for management contracting, which is likely to enhance investment on the continent. This will contribute to the expansion of the industry and create employment opportunities.

Grand Metropolitan Hotels, as a leading European hotel company, brings extensive expertise in hotel management, operations, and international standards. This partnership will facilitate the transfer of knowledge and best practices to RTG and partner hotels, enabling them to enhance their service quality, operational efficiency, and guest experience.

The collaboration between RTG and GMH is set to activate the development of a wider network of hotels and resorts in Africa. This expansion will attract more international tourists and business travellers to the region, thereby boosting the overall growth of Africa’s hospitality industry.

“Through joint marketing efforts and cross-promotion, the partnership will help to showcase African destinations to a global audience. GMH’s international network and marketing capabilities will support RTG in promoting African countries as attractive tourist and business travel destinations, further driving growth and attracting investment,” said Mr. Martin Smura the Board Chairman and President for GMH.

“This partnership will not only benefit RTG and GMH, but will create job opportunities across various sectors, including accommodation, food and beverage, tourism services, and more. Africa has the fastest growing population, which is projected to reach 2.5 billion by 2050, leading to increased domestic tourism and travel spending. This longterm growth potential can make hotel investments attractive for those seeking sustained returns over time. We see a real opportunity for GMH,” said Mr. Smura.

The Rainbow Tourism group chief executive, Tendai Madziwanyika, said: “This partnership with Grand Metropolitan Hotels is a significant milestone. As RTG, we intend to leverage the capabilities of world leaders in the industry. This partnership will not only benefit Zimbabwe, but the entire continent, as we will impart best practices to our students. We want to raise the standards to world-class international standards.”

Overall, the strategic joint venture partnership between RTG and Grand Metropolitan Hotels has the potential to bring about positive developments in Africa’s hospitality industry. It has the potential to drive economic growth, enhance service quality, promote African destinations, and create a favourable environment for investment and employment.