The Meikles family is finally checking out of the Miekles Hotel as reported by the Newsday. The Meikles Limited on Friday reportedly voted to sell the Hotel to an Investment firm Albwardy from UAE.
According to the publication:
An extraordinary general meeting of Meikles Limited last Friday voted to sell Meikles Hotel, for decades the crown jewel of the empire. Investment firm Albwardy of the United Arab Emirates, which operates hotel brands such as the Hyatt and Four Seasons, is to buy the hotel for US$20 million.
With the hotel needing reinvestment, of as much as US$30 million, and now surrounded by a fast degrading central business district, the Albwardy offer looked too good to resist. Years ago, the idea that, one day, the family would sell the hotel would have been dismissed years ago. The hotel has a special place in Zimbabwe’s commercial and political history.
The Meikles Family first came into the country on 7 May 1891. and have built;t their empire in Zimbabwe and other neighbouring countries.
More: Newsday