Rock City gives SSNIT consent to release all documents relating to its bid to buy shares in hotels

Rock City Hotel Ltd has consented to the Social Security and National Insurance Trust (SSNIT) to release documents of its bid to purchase shares in some of its hotels to the public if necessary.

The company owned by Minister for Food and Agriculture, Bryan Acheampong has been in the news for weeks after it came to light that it is buying 60% shares in hotels of SSNIT including the Labadi Beach Hotel.

Amid public outrage and displeasure of Organised Labour, Rock City Hotel has withdrawn the bid.

“Following 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 to be 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,” Rock City Hotel Ltd said in a letter to SSNIT.

In its letter, Rock City Hotel Ltd also said it would have no problem if the documents of the bid it made were released for the public to scrutinise.

“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,” Rock City Hotel Ltd added.

Below is a copy of the letter: