Rock City Hotel withdraws bid to purchase SSNIT hotels amid labour union pressure

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

The hotels in question include La Palm Beach Hotel, Labadi Beach Hotel, Royal Ridge Hotel, and Elmina Beach Hotel.

This decision follows threats from Organised Labour to initiate a strike on Monday, July 15, if SSNIT proceeded with the sale to Rock City Hotel, which is 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 withdraw their interest in the investment opportunity.

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