Occupancy so far this year is up by seven percent and 32 percent, respectively, on last years figures.
Zimbabwe's tourism had nose-dived during the past decade, mainly due to the country's poor macro-economic fundamentals. This was exacerbated recently by talk of elections, which is scaring away not only tourists but potential investors too.
Several countries had issued travel warnings against Zimbabwe.
"Airline seats have increased due to the introduction of additional flights by regional carriers and this has ameliorated the impact of the disruption in service by the national carrier, Air Zimbabwe,” Munyeza said.
He said the group’s hotels in South Africa had also witnessed an improvement in occupancy, although at a much slower pace owing to a general over-supply of hotel rooms.
"An additional 4 100 rooms were added to the Sandton and Rosebank area of South Africa in the last two years," he said.
"The increase in oil prices and the continued strengthening of the South African Rand, which has made South Africa more expensive as a destination, will continue to exert pressure on the pricing of regional packaged deals that ordinarily include South Africa as part of their itinerary."
Munyeza said the world travel industry had proven its resilience with an unexpected rebound in 2010, following a lack-lustre performance in 2009 that was heavily affected by the global economic recession.
"Global travel grew by five percent in 2010, powered by emerging markets, with Africa recording eight percent growth," he said.
African Sun Limited is listed on the Zimbabwe Stock Exchange (ZSE) and has a market capitalisation of $831 472 907.Its share price currently stands at 2c.
Revenue for the hotel group for the period ended March 31, 2011 amounted to $27,74 million up from $26,06 million achieved in the previous period.
Munyeza said this was spurred by a strong revenue growth recorded in Zimbabwe.
Post published in: Business