One of Victoria Falls’ most prominent hospitality assets, the 294-key Kingdom Hotel, has remained closed since January 2023 following the expiration of African Sun’s operating lease. African Sun, which had managed the property since 1997, was unable to reach agreement with the property’s owners regarding lease renewal terms. While the landlord reportedly offered a two-year extension, African Sun sought a minimum ten-year lease to justify the significant capital investment required to refurbish and reposition the hotel. Following the collapse of negotiations, the hotel ceased operations and has remained dormant since.

In May 2026, ownership of the property transferred to ASB Hospitality through its acquisition of Makasa Sun, the company that owns the Kingdom Hotel. The US$30 million transaction was completed following regulatory approvals and marked one of the largest hospitality acquisitions in Zimbabwe in recent years.

ASB Hospitality is a subsidiary of Abu Dhabi-based Albwardy Investment, a diversified investment group with hospitality interests spanning Africa, the Middle East, Europe and the Indian Ocean. The group owns and operates a portfolio of internationally branded hotels under operators including Hyatt, Four Seasons and Meliá. In Zimbabwe, Albwardy previously acquired the former Meikles Hotel in Harare, which was subsequently repositioned and reopened as the Hyatt Regency Harare – The Meikles.

Following the acquisition, renovation and repositioning works have commenced at the Kingdom Hotel, with plans to substantially upgrade the property and potentially introduce an international hotel brand. While the redevelopment is expected to enhance the quality of Victoria Falls’ accommodation offering and reintroduce a significant source of room supply to the market, a formal reopening date has not yet been announced. As such, the timing of the property’s return to operation remains unclear.