In a surprising turn of events, Rock City Hotel has announced its decision to withdraw its bid to become a strategic partner for the hotels owned by the Social Security & National Insurance Trust (SSNIT).
The withdrawal comes in response to various stakeholder concerns and ongoing media discussions surrounding SSNIT’s decision to seek strategic investors for these properties.
In a letter addressed to the Director-General of SSNIT, Mr. Kofi Osafo-Maafo, Rock City Hotel expressed their initial satisfaction with the competitive bidding process. However, they were caught off guard by the ensuing controversy and the negative media attention.
“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 organizations that participated in the process,” the letter stated.
“It therefore came as a total surprise to us that some of your stakeholders have raised concerns about your decision to seek strategic partners for these hotels.”
The hotel management highlighted the impact of the negative commentary on their brand and the potential jeopardy it posed to the investment’s success. “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 jeopardizes the success of the investment we intend to make in these hotels.”
As a result, Rock City Hotel has decided to withdraw their bid and discontinue their pursuit of the investment opportunity. They also consented to SSNIT releasing or publishing their bid documents for public scrutiny if necessary, in the interest of accountability and transparency.
Rock City Hotel concluded their letter by wishing SSNIT continuous success in their endeavors. This development marks a significant shift in the ongoing efforts to find strategic partners for SSNIT’s hotels and raises questions about the future direction of these properties.
Below is the letter confirming Rock City Hotel withdrawal;
