Meikles Limited has once again moved toward exiting the hospitality sector, reopening discussions to sell its remaining tourism-related investment despite having abandoned similar plans only months ago.
The Zimbabwe Stock Exchange-listed conglomerate announced in a cautionary statement that it is currently engaged in negotiations involving a potential disposal of its remaining hospitality interests.
The group said the proposed deal could qualify as a Category 1 transaction under Section 253 of Statutory Instrument 134 of 2019.
Should the transaction proceed, shareholders will be required to vote on the proposal at an Extraordinary General Meeting that the company said will be convened at a later date.
Meikles cautioned investors that the outcome of the negotiations could significantly influence the value of the company’s shares and advised shareholders to exercise care when trading in the stock until further details are released.
The development signals another shift in the group’s position regarding the iconic Victoria Falls Hotel business. Meikles currently holds a 50 percent stake in the company that operates the hotel alongside its partner, African Sun Limited.
That investment became the company’s final hospitality asset after the sale of Meikles Hotel in Harare to Dubai-based Albwardy Investments for US$20 million in 2019.
The latest announcement comes less than six months after Meikles publicly indicated it would retain its interest in Victoria Falls Hotel.
In December 2025, the company said it had reconsidered earlier plans to divest from the property, citing strong prospects for Zimbabwe’s tourism industry and growing confidence in the sector’s future performance.
At the time, Meikles revealed that discussions had taken place during 2024 with Albwardy Investments, a company that has steadily expanded its footprint in Zimbabwe’s hospitality market.
Albwardy’s recent US$30 million acquisition of Kingdom Hotel in Victoria Falls has fuelled market speculation that the investor could pursue additional tourism assets in the resort city.
Adding to the significance of the Victoria Falls Hotel investment, the historic property’s owner, Emerged Railways Properties, is expected to begin a major refurbishment programme in 2026.
Meikles has not disclosed the identity of the party involved in the current negotiations, nor has it revealed the potential value of the proposed transaction.
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