ZimNow Business Desk
Dubai-based Albwardy Investments is expanding its Zimbabwe hospitality footprint, with the closed Kingdom Hotel set to reopen as Grand Hyatt Victoria Falls The Kingdom in late 2027 following an extensive refurbishment.
Hyatt Hotels Corporation announced that one of its affiliates had signed a management agreement with an affiliate of Albwardy Investments for the Victoria Falls property.
The development will give Albwardy two Hyatt-managed hotels in Zimbabwe after the former Meikles Hotel in Harare was reopened under the Hyatt Regency brand.
Grand Hyatt Victoria Falls The Kingdom will become Hyatt’s second branded property in Zimbabwe and introduce the company’s higher-end Grand Hyatt brand to the country.
The planned hotel will have 245 guest rooms, three restaurants, a spa and a fitness centre.
It is located near the entrance to Victoria Falls National Park on the Zimbabwean side and approximately 20 minutes from Victoria Falls International Airport.
“We are delighted to collaborate with Albwardy Investments to bring the Grand Hyatt brand to Victoria Falls,” Hyatt said.
“With its landmark location just moments from the Victoria Falls rainforest, this property represents a truly exceptional setting.”
The announcement follows Albwardy-linked ASB Hospitality’s reported US$30 million acquisition of the former 294-room Kingdom Hotel, which has been closed since early 2023.
Albwardy entered Zimbabwe’s hotel market through its US$20 million acquisition of Meikles Hotel in Harare. The property was subsequently refurbished and relaunched as Hyatt Regency Harare The Meikles.
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The Victoria Falls investment comes as Meikles Limited considers completing its own withdrawal from the hospitality sector.
In June, the Zimbabwe Stock Exchange-listed company announced that it was negotiating the possible disposal of its remaining hospitality interests.
Meikles’ final significant hotel investment is its 50 percent interest in the company operating the historic Victoria Falls Hotel, held alongside African Sun Limited.
“The proposed transaction may constitute a Category 1 transaction in terms of Section 253 of Statutory Instrument 134 of 2019,” Meikles said in its cautionary statement.
The company said shareholder approval would be sought at an Extraordinary General Meeting should the proposed disposal proceed.
Meikles has not named the prospective buyer or disclosed the possible transaction value.
The negotiations represent a reversal from the company’s December 2025 position, when it indicated that it intended to retain the Victoria Falls Hotel investment because of improving prospects in Zimbabwe’s tourism industry.
Albwardy was reportedly among the parties that held discussions with Meikles over the asset during 2024, although there is currently no official confirmation that it is involved in the latest negotiations.
The Kingdom Hotel and Victoria Falls Hotel are separate properties.
Albwardy already owns the former Kingdom Hotel that will become the Grand Hyatt, while Meikles’ negotiations concern its stake in the company operating Victoria Falls Hotel.
If Meikles completes the sale, the transaction would end its long association with Zimbabwe’s hotel industry and leave retail as its dominant business.
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