ANNUAL GENERAL MEETING PRESENTATION FRIDAY 27 MARCH 2009 SHINGI MUNYEZA, GROUP CEO.

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Presentation transcript:

ANNUAL GENERAL MEETING PRESENTATION FRIDAY 27 MARCH 2009 SHINGI MUNYEZA, GROUP CEO

GLOBAL OVERVIEW Impact on Operations Global Financial Crisis Travel to destinations closer to home favoured Decline in average length of stay Traveller has become budget conscious Travel & Tourism Economy GDP will contract by 3.6% in 2009 Emerging Markets expected to be the engines of tourism growth Focus on the African region becomes essential Short to medium strategies to take cognisance that tourism is one of the sectors targeted for growth overall

GLOBAL POLITICAL AGREEMENT Opportunity to rebrand Zimbabwe more sustainably Effects and impact of the recently held Tourism Indaba from 25 – 26 MARCH 2009 The intended opening up of the media will be catalyst for destination preference Currently Zimbabwe ranks 33 rd in the world for attractions but 117 th for most preferred destination The immediate impact of humanitarian aid business travel is already being felt Multi-lateral financial institutions are showing keen interest in funding tourism

IMPACT OF MPS AND FPS ON ZIMBABWE Tourism has welcomed the liberalisation The duty –free status for capital expenditure The Exchange Control liberalisation enabling us to access lines of credit Our rates are now market determined Strict cost management is now in place

Strategic Goals 1.To grow rooms in Africa under African Sun management from the current 2,500 to 8500 by To become an employer of choice by providing competitive remuneration, an enabling and winning environment driven by personal learning and development 3.To achieve a market capitalization of US$1billion 4.To establish brand leadership where we dominate other brands and become the benchmark for other players 5.To seek a dual listing on a major bourse by 2010

REVIEW OF STRATEGIC GOALS 1.Still on target to increase an additional 1000 rooms outside Zimbabwe 2.We shall be starting construction of three hotels in Zimbabwe in the second half of The company is pursuing mergers and acquisitions in the region in order to boost its balance before the planned dual listing in three years time 4.HTA HTA in Calabar agreed on by the State Government of Cross River State. Construction begins in three months time. Introduction of the Professional Cookery Diploma Programme Victoria Falls, Elephant Hills Resort for training of Chefs – 39 Chefs on the programme currently. Future plans to extend this facility to non ASL personnel from 2010 The HTA in Equatorial Guinea still under construction. 5.Brand leadership Our first AMBER was opened in Nigeria i n December MyPlace under development in South Africa, Nigeria and Ghana Mulberry under development in Nigeria

Financial Overview and Outlook

FORECASTED OCCUPANCIE S ZIMBABWEGHANANIGERIASOUTH AFRICA GROUP ACTUAL QUARTER ENDED JUNE %0% 58%41% FORECASTED QUATER ENDED JUNE %65%32%45%37% EASTER OCCUPANCY FORECASTED - 45% FORECASTED OCCUPANCIES JUNE 2009

ZIMBABWEGHANANIGERIASOUTH AFRICA DECEMBER 2008 ADR DECEMBER 2008 REVPAR JANUARY 2009 ADR JANUARY 2009 REVPAR FEBRUARY 2009 ADR FEBRUARY 2009 REVPAR ADR, REVPAR FOR THE GROUP