Rock City Hotel has decided to withdraw its bid to purchase the 60 percent shares of four hotels owned by the Social Security and National Insurance Trust (SSNIT).
This decision follows concerns raised by stakeholders regarding SSNIT’s process of seeking strategic partners for their hotels, which have been widely discussed in the media. These discussions have created negative perceptions that Rock City Hotel believes could harm its brand and jeopardize the success of its intended investment.
In a letter addressed to SSNIT’s Director-General, Mr. Kofi Osafo-Maafo, Rock City Hotel expressed disappointment at the lack of stakeholder engagement, which it feels has contributed to the negative sentiment surrounding the bid. Consequently, Rock City Hotel has chosen to halt its pursuit of this investment opportunity.
In a gesture of transparency and accountability, Rock City Hotel has agreed to make its bid documents available for public scrutiny or publication if required.
Despite this setback, Rock City Hotel remains hopeful about future prospects and extends its best wishes to SSNIT for their ongoing endeavors.
