WESTPROP Holdings has successfully partnered with hospitality giant Radisson Hotel Group for the management of the Millennium Heights Block 5 aparthotel.
The aparthotel will be known as the Radisson Millennium Heights Aparthotel.
Chief Executive Officer Mr. Ken Sharpe signed on behalf of WESTPROP, while Mr. Daniel Trappler, Senior Director responsible for Development in Sub-Saharan Africa, signed for the Radisson Hotel Group.
The hotel group has an impeccable track record in managing aparthotels, and its entry into the local market is expected to excite and offer more options to discerning travelers and holidaymakers.
Aparthotels offer a unique hospitality experience that combines the comfort of a home with the services of a hotel.
The 148-roomed aparthotel will feature spacious, fully-equipped apartments with kitchenettes, separate living areas, and bedrooms. Guests can enjoy the flexibility of self-catering while still having access to hotel amenities such as fitness centers, restaurants, and meeting spaces.
This concept offers numerous benefits for both guests and property owners. Guests enjoy the comfort and convenience of a home-away-from-home experience, while owners benefit from Radisson’s global distribution network, revenue management expertise, and operational efficiencies.
While the concept is still relatively new in Zimbabwe, the demand for aparthotels is growing rapidly, driven by increasing demand for flexible, self-catering accommodations from business travelers, families, and digital nomads.
The aparthotel, whose construction begins this year, is expected to open in two years’ time. WESTPROP has already started accepting investments into the aparthotel, with each share costing US$5,750, including furniture.
So far, 58% of the fractional shares have been bought since their launch last November.
Multiple investors can part-own an apartment, which will be leased out to clients as serviced apartment accommodation for short-term stays.
“After the first year of operation as an aparthotel, investors can expect returns of at least 8%. However, as property values increase and the hotel’s occupancy rates grow, so too will the return on investment,” said Mr. Sharpe.
Mr. Sharpe encourages investors to take up this offer to secure their future and that of their children. He believes this is a secure long-term investment. With the guaranteed returns, this is undoubtedly a game-changer in the Zimbabwean property space. This offer is the first of its kind in Zimbabwe, allowing investors to enjoy both ownership and rental income.
“Do not miss out on this opportunity to invest in Zimbabwe’s future and secure a share of the profits,” he said.
For comments, Feedback and Opinions do get in touch with our editor on WhatsApp: +44 7949 297606.