MTI INVESTMENT INVESTS SEK 1.3 MILLION INTO A HOTEL MANAGEMENT COMPANY IN ZANZIBAR’S BOOMING TOURISM INDUSTRY, WITH PLANS TO SECURE A 40% OWNERSHIP IN THE ACTUAL REAL ESTATE OF MAYAI OCEAN RESORT.
MTI Investment has successfully entered Zanzibar’s flourishing tourism industry with a strategic investment of SEK 1.3 million (EUR 115,000) in a hotel management company. The investment was made possible by funds raised from the TO1 warrant expiry earlier this year. The first stage of the investment involves a 50% ownership stake in the hotel management company, which is controlled through a Swedish holding company. In the second stage, MTI is exploring financing options to secure a 40% ownership in the real estate of Mayai Ocean Resort. This investment is expected to create at least 32 new job opportunities, with positive cash flow anticipated from the outset.
The hotel management company is founded to manage multiple hotels and other real estate in Zanzibar, in partnership with Norwegian entrepreneur Rune Haram, co-founder of Sunnmørsmat in Norway, and other investors. Mayai Ocean Resort, situated in Zanzibar’s South District, will be the initial hotel under management, positioned in the peaceful Bwejuu area, just north of the well-known Paje beach. The hotel will be managed by Norwegian-founded HotelOnline and will use the waste management services of MTI Investment portfolio company, Zanrec.
Zanzibar is a popular tourist destination known for its beautiful beaches, rich history, and cultural diversity. The tourism industry is a vital part of the island’s economy, contributing significantly to its GDP and providing employment opportunities for the local population. Zanzibar has a stable political environment and has introduced policies and initiatives to support and promote the growth of the tourism industry.
MTI Investment is excited to contribute to the economic development of the region while capitalizing on the booming tourism industry in Zanzibar. The hotel will be ready to welcome visitors from July 1, 2023. Visitors interested in staying at Mayai Ocean Resort can contact Zanzibar Dreams Travel for an attractive opening offer.
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