Rock City withdraws bid to purchase SSNIT Hotels

Rock City Hotel has withdrawn its bid to purchase 60 per cent of shares in four hotels owned by the Social Security and National Insurance Trust (SSNIT).

The decision was made in response to Organised Labor’s threats to go on strike on Monday, July 15, should SSNIT move through with the sale of Agriculture Minister Bryan Acheampong’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 unfavourable impression of their offer.

As such, the hotel has made the decision to give up on pursuing this investment opportunity.

We believe you have not done enough to involve all of your stakeholders, which has resulted in notions that we don’t want linked with our brand. This feeling stems from all of the criticism that we have been monitoring and the excessive negativity that has accompanied this feedback.

“We think that this kind of hostility damages not just our brand but also our plan to invest in these hotels and their success. We are writing to let you know that we have decided to withdraw our bid and give up on 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.

“Lastly, we agree that you may release all or any portion of our bid documents for public review, or publish them if needed, in the interest of accountability and transparency.”