Givemore Panganayi, a popular Harare businessman, reportedly attended a party at the conference venue inside the Rainbow Towers Hotel in the company of the singer Suluman Chimbetu.
Friends said he stood up during the night to answer a call on his mobile phone, but he never returned.
A police source told ZimLive the decomposing remains of Panganayi were discovered by a hotel employee on Tuesday afternoon in a non-functioning lift.
The body was recovered to Parirenyatwa Hospital by police officers later in the evening for a post-mortem.
Rainbow Towers spokesperson Pride Khumbula said: “We have no comment.”