Rock City Hotel has withdrawn its bid to purchase 60 percent shares in four hotels owned by the Social Security and National Insurance Trust (SSNIT).
The hotels include La Palm Beach Hotel, Labadi Beach Hotel, Royal Ridge Hotel and Elmina Beach Hotel.
In a letter addressed to the Director-General of SSNIT, Mr. Kofi Osafo-Maafo, Rock City Hotel expressed their disappointment at the lack of stakeholder engagement, which they believe has led to the negativity surrounding their bid.
The decision to withdraw the bid comes after Organised Labour on Friday threatened to embark on a nationwide strike beginning on Monday, July 15, if SSNIT proceeds with the decision to sell the hotels to Rock City Hotel.
Letter below
Dear Director General,
NOTICE OF WITHDRAWAL OF BID
At all material times, we believed that we had participated in an internationally competitive bid and were happy to have learned of our success having edged out the 15 other organisations that participated in the process.
It therefore came as a total suprise to us that some of your stakeholders have raised concerns about your decision to seek strategic partners for these hotels
We have also taken note of ongoing media discussions on your decision to seek strategic investors for these hotels.
We have also taken note of your recent media engagements and press statements ostensibly defending your decision to seek to a strategic investor.
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.
Finally, in the interest of accountability and transparency, we consent to you releasing all or whatever parts of our bid documents for public scrutiny or publish same if it should become necessary.
We wish you continuous success in your endeavours.
