RTG revenue jumps 32% as Victoria Falls tourism and conferencing recover

RTG revenue jumps 32% as Victoria Falls tourism and conferencing recover

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Rainbow Tourism Group (RTG) says its first-quarter 2026 revenue rose 32% to US$11.41 million, up from US$8.65 million recorded in the same period last year, as occupancy levels improved, resort operations grew and foreign currency takings increased.

In a trading update for the period ended March 31, 2026, RTG reported occupancy of 51%, up from 48% previously. Revenue per available room (RevPAR) increased 19% to US$57 from US$48.

The group said the operating environment was “relatively stable” during the quarter, supported by a stable Zimbabwe Gold (ZiG) exchange rate and inflation that remained below 1%. However, RTG noted that geopolitical tensions — particularly in the Middle East — continued to disrupt tourism, citing rising fuel costs and flight cancellations by some airlines.

RTG attributed its quarterly performance to increased food and beverage activity across its city hotels and continued business growth at resort properties. Foreign currency revenue rose 21%, with resort hotels recording a 40% increase in revenue over the period.

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The company also reported progress integrating Heritage Expeditions Africa (HExA), the tourism subsidiary it acquired in July 2025. RTG said HExA’s revenue grew 36% during the quarter on the back of demand for curated tourism experiences across Zimbabwe.

On capital expenditure and product upgrades, RTG said it completed the refurbishment of the remaining 44 rooms at A’Zambezi River Lodge, including room interior upgrades, aesthetic improvements and rethatching works.

RTG is also preparing to begin a full refurbishment of 100 rooms at Montclair Resort and Conference Centre, with construction scheduled to start on June 1, 2026. The group said it has budgeted about US$1.8 million for the project and expects the upgrades to strengthen Montclair’s position as a hospitality destination in the Eastern Highlands.

Looking ahead, RTG said it expects continued growth in demand, supported by the recovery of international tourism in Victoria Falls and expansion in the conferencing business. It added that cost management, product enhancements and innovation initiatives are expected to support improved operating margins and sustainable growth for the rest of the 2026 financial year.

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