African Sun has announced that it has put its Monomotapa Hotel in Harare on the market.

Shareholders and investors have been notified of the decision in a further cautionary statement, stating that the sale would be part of the brand’s strategy.

African Sun previously said it planned to dispose of certain assets to recapitalise and improve its primary portfolio, as reported by Travel News.

“In keeping with the strategy of unlocking value, negotiations for the disposal of a selection of hospitality assets are ongoing. Pursuant to the above, the Company has placed the Monomotapa Hotel on the market for sale,” said African Sun’s statement.