ZITF hotel project begins
THE Zimbabwe International Trade Fair Company has started preparations for the construction of its 300-bed hotel and conventional centre in Bulawayo set to ease accommodation problems for exhibitors during the annual trade fair event.
In a statement last week, the company said the project was meant to position Bulawayo as a meeting destination and also complement the existing tourism infrastructure in the country.
The company also invited proposals from interested firms for selection of a financial advisor and transaction advisor who shall develop a revenue model and appropriate structure for the project, prepare bid documents for selection of the investor and assist ZITF in the selection process.
“The Zimbabwe International Trade Fair (ZITF) Company is engaged in the development of a hotel and an 800-seater Convention Centre on a portion of its 16.7 hectares in the Zimbabwe Exhibition Centre. The drive to modernise and enhance the capacity utilisation of the exhibition centre positions the city of Bulawayo as a meetings destination and also complements the existing tourism infrastructure in the country,” reads part of the statement.
The company said previous feasibility studies to determine the technical feasibility and financial viability for the Convention Centre have been conducted. “Previous feasibility studies to determine the technical feasibility and financial viability for the Convention Centre have been conducted. In pursuance of that, ZITF Company has decided to carry out the process for the selection of a Financial Consultant and Transaction Advisor whose required scope of work is detailed in the RPF,” reads part of the statement. “ZITF Company, in line with the above, hereby invites proposals from interested firms for selection of a Financial Advisor (and Transaction Advisor) who shall develop a revenue model and appropriate structure for the Project, prepare bid documents for selection of the Investor and assist ZITF in the selection process,” reads part of the statement. It is hoped that the proposed 300bed hotel will go a long way towards reducing accommodation challenges in Bulawayo, particularly during the annual trade showcase. A few years ago, the BCC revealed that the city had 525 hotel and lodges beds. Over the years, the ZITF Company has been partnering with Ecological Safaris as part of efforts to ease accommodation challenges in Bulawayo during the trade fair. Private landlords have taken advantage of accommodation challenges during the exhibition by charging high rates to desperate visitors.