The Rock City Hotel has withdrew its offer to buy the Social Security and National Insurance Trust (SSNIT)’s 60% ownership stake in around four hotels.
The hotels are Royal Ridge Hotel, Elimina Beach Hotel, Labadi Beach Hotel, and La Palm Beach Hotel.
The choice to withdraw the bid was made in response to Organized Labor’s warning to go on strike on Monday, July 15, should SSNIT move through with the sale of the hotels to Bryan Acheampong, the Minister of Agriculture.
The Rock City Hotel voiced their displeasure at the absence of stakeholder involvement, which they believe is the cause of the negative sentiment around their bid, in a letter to Mr. Kofi Osafo-Maafo, the Director-General of SSNIT.
As a result, they have made the decision to give up on this hotel investment opportunity.
Rock City Hotel has agreed to submit all or portions of their bid documents for public review or publishing, if required, in an effort to promote accountability and openness.