Rock City Hotel has withdrawn its bid to purchase 60 percent of the shares in four hotels owned by the Social Security and National Insurance Trust (SSNIT). These hotels include La Palm Beach Hotel, Labadi Beach Hotel, Royal Ridge Hotel, and Elmina Beach Hotel.
The decision follows a threat from Organised Labour to strike on Monday, July 15, if SSNIT proceeded with the sale to Rock City Hotel, owned by Agriculture Minister Bryan Acheampong.
In a letter to SSNIT’s Director-General, Kofi Osafo-Maafo, Rock City Hotel expressed disappointment over the lack of stakeholder engagement, which they believe contributed to the negative perception surrounding their bid. Consequently, they have decided to discontinue their pursuit of this investment opportunity.
In the interest of transparency and accountability, Rock City Hotel has agreed to the release of their bid documents for public scrutiny or publication if necessary.
