Rock City Hotel has withdrawn its bid to purchase the 60 percent shares of some four Hotels owned by the Social Security and National Insurance Trust (SSNIT).

The hotels include La Palm Beach Hotel, Labadi Beach Hotel, Royal Ridge Hotel and Elimina Beach Hotel.

The decision to withdraw the bid comes after Organised Labour threatened to embark on a strike on Monday, July 15 if SSNIT proceeds with the decision to sell the Hotels to Rock City Hotel owned by Agriculture Minister Bryan Acheampong.

In a letter addressed to the Director-General of SSNIT, Mr. Kofi Osafo-Maafo, Rock City Hotel expressed their disappointment at the lack of stakeholder engagement, which they believe has led to the negativity surrounding their bid.

They have therefore decided to discontinue their pursuit of this investment opportunity in the hotels.

In a move promoting transparency and accountability, Rock City Hotel has consented to the release of all or parts of their bid documents for public scrutiny or publication if necessary.

Source:citinewsroim.com