Rock City Hotel has pulled out of its bid to acquire a 60 percent stake in four hotels owned by the Social Security and National Insurance Trust (SSNIT).
The hotels in question are La Palm Beach Hotel, Labadi Beach Hotel, Royal Ridge Hotel, and Elmina Beach Hotel.
This decision follows Organised Labour’s threat to go on strike on Monday, July 15, if SSNIT proceeds with the sale to Rock City Hotel, which is owned by Agriculture Minister Bryan Acheampong.
In a letter to SSNIT Director-General Kofi Osafo-Maafo, Rock City Hotel expressed disappointment over the lack of stakeholder engagement, which they believe caused negative perceptions about their bid.
Consequently, they have chosen to withdraw from pursuing this investment opportunity in the hotels.
In the interest of transparency and accountability, Rock City Hotel has agreed to the public release of all or part of their bid documents, if necessary.
Read full statement below:
