Rock City Withdraws Bid To Buy SSNIT Hotels Following Stakeholder Concerns

Bryan Acheampong

 

In a surprising turn of events, Rock City Hotel has announced the withdrawal of its bid for participation in the strategic investor search process for the SSNIT hotels.

The decision comes amidst concerns raised by stakeholders and perceived lack of engagement regarding the strategic partnership sought by the hotels.

Rock City Hotel, having emerged as the successful bidder in what was described as an internationally competitive bid process, expressed their initial excitement at securing the opportunity ahead of 15 other organizations. However, recent developments surrounding the decision to seek strategic partners for the hotels have prompted a reevaluation of their involvement.

In a formal notice addressed to the relevant authorities, Rock City Hotel highlighted the ongoing media discussions and stakeholder engagements that have cast doubts and negativity on the bidding process. The company pointed out the perceived lack of comprehensive stakeholder engagement leading to damaging perceptions that could impact their brand reputation and the success of the intended investment.

Expressing concern over the unfavorable narrative surrounding the bid process, Rock City Hotel officially communicated their decision to withdraw the bid and discontinue their pursuit of the investment opportunity. The company also consented to the release of their bid documents for public scrutiny to uphold transparency and accountability in the bidding process.

The decision by Rock City Hotel to withdraw their bid underscores the significance of transparent and inclusive stakeholder engagement in major business transactions.

By Vincent Kubi

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