Rock City withdraws bid to purchase SSNIT-owned hotels

Rock City Hotel has retracted its offer to acquire 60 percent shares in four hotels owned by the Social Security and National Insurance Trust (SSNIT).

The properties include La Palm Beach Hotel, Labadi Beach Hotel, Royal Ridge Hotel, and Elmina Beach Hotel.

This decision follows threats from Organized Labour to initiate a strike on Monday, July 15, if SSNIT

Read full articleproceeds 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, attributing the negative response to this oversight. Consequently, they have decided to withdraw from the investment opportunity.

To uphold transparency and accountability, Rock City Hotel has agreed to the release of their bid documents for public scrutiny or publication if deemed necessary.