Meikles has agreed to sell its half-share of the Victoria Falls Hotel partnership to African Sun, marking the tycoon-led company’s exit from Zimbabwe’s hotel industry.
A reversal in strategy
The decision to divest comes as a significant pivot for the company. Only eight months ago, Meikles had indicated it would retain the asset, signaling a commitment to remain part of the high-profile hospitality partnership.
The move to sell its remaining interest now concludes the company’s involvement in the operation of one of Zimbabwe’s most iconic tourism landmarks.
Succession disputes and exits
The exit follows a period of instability characterized by a public family succession fight involving tycoon John Moxon. While the specific terms of the sale were not disclosed, the transition occurs against the backdrop of these internal disputes, which have played out in the public eye.
The transfer of the stake to African Sun streamlines the ownership of the Victoria Falls Hotel, removing Meikles from the hotel sector entirely.
The development concludes a period of uncertainty regarding the asset’s long-term ownership structure following the initial decision to keep the hotel and the subsequent agreement to sell.
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