The Akufo-Addo government has sold 60 percent of Ghana’s shares in Golden Tulip Hotels.
According to statements from the Managment of Golden Tulip, the sale was made to Lebanese company, Lancaster and affects both the Accra and Kumasi branches of the popular hotel which will now be known as Lancaster Accra City Hotel and Lancaster Kumasi City Hotel respectively.
Golden Tulip was established in 1991 under the Rawlings government and refurbished in 2009 under the Mills government.
Available documents show that the Akufo-Addo Government and the Government of Libya (GLAHCO) have entered into a joint venture agreement which saw the sale of the hotel franchise to the Lebanese firm.
Before the sale, the Government and Ghana and the Government of Libya owned 60 percent and 40 percent respectively of the hotels.
A letter from a General Manager of the hotel which was copied to heads of departments reads: “Achour Holding Limited operating as Lancaster Hotels will be the new lessee and would take effect from 1st July 2022, with same conditions as previously communicated. We urge you to support the new company to ensure a successful takeoff.”
Another letter signed by, Lucy Ahedor, Rooms Division Manager of Golden Tulip said, “We wish to inform you that from 1st of July, 2022, the name of the hotel will now change to Lancaster Hotel. We would also like to inform you to rest assured as this change will not affect normal operations of the hotel.”
The sale has been criticised as a reflection of the desperation of the Akufo Addo administration to raise badly needed funds for its economic programme after it has decimated the resources of the country through unprecedented corruption and mismanagement.