The Social Security and National Insurance Trust (SSNIT) owns four hotels, and Rock City Hotel has just withdrawn its proposal to acquire 60% of the hotels’ shares.
The decision was made in response to Organized Labor’s threats to go on strike on Monday, July 15, should SSNIT move through with the sale to Bryan Acheampong, the Agriculture Minister,’s Rock City Hotel.
Rock City Hotel voiced dissatisfaction over the lack of stakeholder participation in a letter to SSNIT’s Director-General, Kofi Osafo-Maafo. They think this contributed to the unfavorable impression of their offer.
As such, the hotel has made the decision to give up on pursuing this investment opportunity.
The Rock City Hotel has given permission for all or any of their bid documents to be made available for public review and, if needed, publishing.
The statement partly reads:
“Flowing from all the commentary monitored and the undue negativity that has attended this commentary, we feel you have not done enough to engage all your stakeholders, leading to perceptions that we don’t want associated with our brand.
“We believe that such negativity is not only injurious to our brand but also jeopardises the success of the investment we intend to make in these hotels. Therefore, we are writing to inform you of our decision to withdraw our bid and discontinue our pursuit of this investment opportunity”
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