Ghana Libyan-Arab Holding Firm (GLAHCO) has denied reviews alleging {that a} Lebanese firm has bought the entire franchise of the Golden Tulip Resorts in Accra and Kumasi owned by a three way partnership between the federal government of Ghana and Libya.
“GLAHCO needs to tell most people that, Golden Tulip Resorts haven’t been offered, due to this fact the stated allegation/assertion is fake,” it stated in an announcement issued in Accra yesterday.
The assertion stated “Initially, Golden Tulip Resorts is a three way partnership between the Libyan Authorities and the Ghana Authorities with the Authorities of Ghana holding a minority stake of 40 per cent and the 60 per cent majority stake held by the Libyan Authorities.
The Golden Tulip model, the assertion stated was operated underneath a Administration Contract with Louvre Resorts Group (LHG) of France.
The corporate the assertion stated gave indications of non-renewal of the settlement on the finish of December 2021, citing latest adjustments in regulatory pointers of their nation of residence.
“The Board of Administrators as a part of their mandate to make choices on the strategic course of the corporate started the method of evaluating choices for alternative of the Administration contract with a extra improved phrases of engagement that provides a greater return on funding within the Resorts and consequently improve worth to its shareholders,” the assertion
Via this assessment course of, the assertion stated the leasing possibility was chosen and according to common procurement processes, firms have been invited to current proposals for lease of the Golden Tulip Resorts.
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“4 firms from 4 totally different international locations particularly Ghana, Tunisia, Nigeria and Lebanon expressed curiosity and despatched by means of their proposals for consideration by the Board,” the assertion stated.
After a number of months of deliberation, the assertion stated the Board settled on Achour Holdings, operators of Grand Lancaster chain of inns and subsequently secured the signing of a lease settlement with the corporate on Might 18, 2022 pending fulfilment of pre-operating situations.
“The phrases of the lease settlement included however not restricted to the next; a major lease time period of 12 years and never a sale. The efficient date for the graduation of lease operations of July 1. 2022. The corporate was additionally required to assemble a contemporary convention facility of 1,000 sq. metres for Golden Tulip Accra. It should be stated {that a} state-of-the-art convention facility for the resort has been one key funding wanted for the resort to enhance its revenues and compete beneficial on a market that has seen the entry of very respected manufacturers over time,” the assertion stated.
The conclusion and signing of the lease settlement the assertion stated, meant a re-branding of the Golden Tulip Resorts to Lancaster Resorts efficient from the lease begin date. Consequently, the names of the inns have been modified to Lancaster Accra and Lancaster Kumasi Metropolis
