HomeBusiness DigestRTG recovers US$5,2m from ReNaissance bank

RTG recovers US$5,2m from ReNaissance bank

Clive Mphambela

RAINBOW Tourism Group (RTG) has recovered its US$5,2 million previously locked up in ReNaissance Merchant Bank (RMB), a development that has enabled the company to resume its refurbishment programme.In an interview, RTG corporate affairs manager, Eltah Nengomasha, told businessdigest the company had started drawing down on the funds and refurbishments of the Rainbow Towers hotel had resumed on April 1 2012.
“We have been drawing down various amounts in line with the project development and so far we have not had any problems. There has been no instance when we have requested the bank for money and had any issues. All disbursements have been made by ReNaissance without delay,” Nengomasha said.
Refurbishment had stalled last year when RMB was placed under curatorship by the RBZ, but work has resumed at the group’s flagship, Rainbow Towers.
She said the refurbishment exercise was being conducted in a phased approach, with phase one targeted for completion within the next two months, while phase two would last approximately five months.
Nengomasha said the refurbishments broadly covered the main reception area and lobby, La Patisserie, Gazebo, Harvest Garden and Kombahari restaurants.
The guest and service  lifts, all suites, all the towers’ rooms, club floor lounge and standard classic rooms between the fourth and 11th floors were being renewed.
The Jacaranda 1, 2 and 3 conference rooms would get a major facelift, with the floors and sound proofing being redone, she said. The conference rooms would also have high-traffic carpets.
There would also be major changes to the Towers club check-in point and club room which would end up larger.
Presenting the group’s results earlier this year, the company revealed that it was now reaping the benefits of the deliberate massive refurbishment programme which the hotel chain embarked on in order to reposition its product.
RTG said it was also refurbishing Hotel Mozambique in Beira, with plans to establish another property in Tete. Construction of the NSSA-funded Beitbridge Hotel Project was at an advanced stage with the hotel nearing completion and would be opened this year.

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