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FIND ALL BUSINESS RESCUE DOCUMENTS HERE
IMMEDIATE RELEASE
17 SEPTEMBER 2020
IFA FAIR-ZIM HOTEL & RESORT PROPRIETARY LIMITED ENTERS BUSINESS RESCUE
IN RESPONSE TO UNPRECEDENTED CIRCUMSTANCES RESULTING FROM COVID-19 AND THE PROLONGED SA GOVERNMENT-IMPOSED NATIONAL STATE OF DISASTER
Thursday, 17 September 2020 09h30: As the Covid-19 crisis continues to disrupt local and global travel and tourism markets, IFA Fair Zim Hotel & Resort Proprietary Limited announced today that the company entered business rescue on Wednesday 16 September 2020 to safeguard the interests of all its stakeholders.
“The consequent stagnation in global economic activity together with the South African Government-imposed National State of Disaster has impacted negatively on our business”, said General Manager Wayne Krambeck.
The Fairmont Zimbali Hotel in particular, faced an unprecedented situation following the lockdown and border closures, despite experiencing exponential growth with record turnover from November 2019 to March 2020.
“We have been in support of our President and the government’s reasons for implementing the initial lockdown period however, the extraordinary circumstances of a prolonged lockdown now day 176 the longest in the world to date with limited support from government, has eroded our revenue base. The losses that will be incurred in a gradual return to normality with ongoing uncertainty and the possible threat of further restrictions is just not commercially viable. We have been left with no alternative but to apply for business rescue”, he said.
The Fairmont Zimbali Resort is one of the biggest foreign investments on the North Coast of KZN and has been a major role player in the South African hospitality industry with usage from local and national government, local tourism as well as International visitors.
The Board resolved to file for business rescue and appoint Pierre Berrange as the business rescue practitioner. The business rescue practitioner will formulate a rescue plan and ensure that the best way forward is found for all stakeholders in accordance with all regulatory requirements.
All stakeholders and suppliers will be contacted by the business rescue team to plan the way forward in accordance with the processes as provided in the Companies Act.
ENDS
Issued on behalf of IFA FAIR-ZIM HOTEL & RESORT PROPRIETARY LIMITED
Julia Unger - Indelible Inc
julia@indelible.co.za
M: 0824524427
Welcome to paradise
One of South Africa's leading tourism destinations, Zimbali Coastal Resort is renowned for its breathtaking landscapes, pristine beaches and award-winning hotels, as well as offering leisure and business travellers from across the world the opportunity to experience unrivalled hospitality in a luxury eco-estate setting.
Zimbali Coastal Resort is located on Kwa-Zulu Natal's famed North Coast, on one of the most beautiful stretches of coastline in the country, a short drive from Durban's King Shaka International Airport, the bustling holiday hotspots of Ballito and Umhlanga and just 30 minutes from the bright lights of Durban.
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Relax in style
Our various accommodation options all have one thing in common - they put comfort first with luxurious finishings and sophisticated decor and are guaranteed to not just meet our guests' expectations but to exceed them.
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JUNIOR SUITE
Fairmont Zimbali Resort
Indulge body and soul
Taking good care of yourself is made easy at Fairmont Zimbali Resort thanks to Willow Stream Spa and our fully equipped, state of the art gym, both of which take wellness of body and soul to the next level.
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WILLOW Stream spa
Fairmont Zimbali Resort
Out and about
Zimbali Coastal Resort offers a 360-degree lifestyle experience that includes a range of great outdoor and indoor activities designed to keep you young at heart and on the go. There really is something for everyone on offer, from golf and squash to tennis and hiking.
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1st hole
Zimbali Country Club
Dining
Feast your eyes and delight your senses with Fairmont Zimbali Resort’s exquisite dining options that invite you on a culinary journey that is guaranteed to tantalise your tastebuds.
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OSA RESTAURANT THALI
Fairmont Zimbali Resort
Weddings
Fairmont Zimbali Resort is the perfect place to say "I do" with a range of gorgeous venues for both ceremonies and receptions. Our experienced and professional team of wedding planners will handle all the details, leaving you free to celebrate in style.
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Conferencing
Whether it's a business meeting for a handful of executives or a conference for hundreds of delegates, Fairmont Zimbali Resort has a venue to suit and a dedicated conferencing and banqueting team on hand to make your event one to remember.
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In order to ensure that we offer all our visitors a pleasant and enjoyable experience when making use of our leisure facilities, kindly note a Club Leisure Pool Fee applies for non-hotel guests to use the Main Pool at only R150 per person, per day. Enjoy an elevated poolside experience; guests receive a R75 meal voucher per person (to use at either the Bite Pool Bar or at the Beach Café and Bar), and can expect value-added services on offer. For more information, kindly contact our Guest Services Team on guestservices@zimbaliresort.com or call (032) 538 5000.
Bookings are essential for our restaurants with preference given to hotel guests. Contact our Dining Department to make your booking on dining@zimbaliresort.com.
Absolutely FANTASTIC! What a wonderful resort that's makes you want to come back! Absolutely FANTASTIC! We enjoyed our time at the this hotel,so much! Thank you Devashen for your warm welcome, big smile's (drunk monkeys), amazing service and complimentary upgrade. You really made us feel extra special. Dr J.
The most magnificent holiday getaway along the KZN North Coast. It has the tranquility typically associated with a game lodge and shares the wonder of the Indian Ocean. Drive in through the main gates and the welcome is unforgettable. This is an experience not to be missed.
Beautiful Property with Excellent Service. What a wonderful surprise. I did not know anything about the property before visiting it, but spent the last 5 days here at business meeting. The rooms were spacious, up-to-date, comfortable and clean. The service was outstanding, the food great and the wifi never disconnected. Would love to come back again
One of the most amazing hotels we have stayed at for a long time. Spectacular location. We ended up staying in 3 different rooms/suites and all were stunning. Staff went above and beyond. I ended up going to hospital for one night and the team were so accommodating and helpful. They organised rooms for us when we knew it was peak season, reception held rooms for us until we rescheduled flights and kept checking in on us. The concierge team were so patient and helpful moving our luggage to new rooms and allowing for late check out. They even helped push start our rental car as in the stress of everything my husband left the car lights on so the battery died! Everyone was just so helpful and supportive. Despite the circumstances we still had a lovely time and got to rest and feel special. Food was amazing, well priced and the pools and facilities fabulous!
Wonderful stay at the Zimbali Suites. We booked a family apartment. The booking process, check in/out were seamless. The apartment was modern, well stocked with basic amenities and spacious. We had access to the main hotel facilities including the pools and private beaches. We enjoyed the spa as well as the on site salon facilities. A wonderful place for a weekend away.
Amazing place with friendly and competent staff. We had booked into a rental holiday home for my birthday weekend. We decided last minute that we would get our friends and family together for a dinner, but wanted a space where everyone could really be free and enjoy themselves. We enquired with reception at the resort and things were arranged and sorted in no time. Nosipho was our event organisor. our family were treated so well and the dinner was one they still talking about. I thoroughly enjoyed my evening. Thank you Zimbali - will sure be visiting soon.
My Zimbali Experience. We had the time of our life, the place is . Great picture moments, facilities, support staff and accommodation. The number of restaurants provides a vast choice of dishes to suit and wet everyone's appetite. We were staying at one the Heritage Villa and the accessibility, cleanliness, access to own pools and beach was convenient. My villa was 200m from the beach, which made it so much fun.