Zimbabwe’s state run pension fund, National Social Security Authority (NSSA), says it has received several proposals from prospective tenants to operate its $30 million Beitbridge hotel, which was vacated by the Rainbow Tourism Group last month.
NSSA has been leasing the hotel to RTG since it opened in January 2014 but the hotelier pulled out after it accumulated losses of over $2 million in the 29 months it operated.
It was the second major hotel in the border town to shut down this year, after African Sun also closed its Beitbridge Express Hotel in January citing prolonged losses at the hotel.
NSSA acting general manager Henry Chikova said today that the pension fund was “working tirelessly” to make sure the investment was protected.
Chikova denied reports that NSSA closed down the hotel after RTG failed to pay rent, saying it was closed because it was not viable.
“The main reason RTG cited for pulling out of the hotel is lack of viability and not failure to pay rent. The two are however related. The Authority has already received various proposals from prospective tenants to operate the hotel, and will be shortly engaging them in discussions,” he said.-The Source
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