SSNIT Looking For Investors To Give Controlling Stake In Chain Of Hotels

The Social Security and National Investment Trust (SSNIT) is looking for investors to sell controlling stakes in its chain of hotels to.

In an advert listed as project No. GR/SSNIT/CS/0001/2022, the statutory public Trust says it is looking for strategic partners to give control in six hotels – the 5-Star Labadi Beach Hoteland 4-Star La Palm Royal Beach Resort in Accra, 3-Star Elmina Beach Resort, off the Takoradi-Cape Coast highway, the 3-Star Ridge Royal Hotel located in the Cape Coast City; the 3-Star Busua Beach Resort at Busua in Ahanta West and the Trust Lodge Hotel located at Takoradi.

“SSNIT’s objective is to develop its owned hotels into world-class standard in their respective categories and is therefore seeking capital injection from competent strategic investors with expertise in owning and managing hotels and/or development of real estate to finance these developments. SSNIT will not be involved in injecting additional capital,” the advert states in the advert.

As a selling point, SSNIT states that prospective investors have the “Opportunity to acquire control and set strategic direction,” and that, “SSNIT will not be involved in injecting additional capital.”

It is not clear why, but the invitation to investors to acquire controlling stakes in all its hotels suggests SSNIT is having trouble making its chain of hotels profitable.