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Ghana Libyan-Arab Holding Firm (GLAHCO) has denied reviews alleging {that a} Lebanese firm has bought the entire franchise of the Golden Tulip Accommodations 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 Accommodations haven’t been bought, subsequently the mentioned allegation/assertion is fake,” it mentioned in a press release issued in Accra yesterday.
The assertion mentioned “Initially, Golden Tulip Accommodations 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 mentioned was operated beneath a Administration Contract with Louvre Accommodations Group (LHG) of France.
The corporate the assertion mentioned gave indications of non-renewal of the settlement on the finish of December 2021, citing latest modifications 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 gives a greater return on funding within the Accommodations and consequently enhance worth to its shareholders,” the assertion
Via this assessment course of, the assertion mentioned the leasing choice was chosen and consistent with basic procurement processes, corporations have been invited to current proposals for lease of the Golden Tulip Accommodations.
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“4 corporations from 4 totally different international locations specifically Ghana, Tunisia, Nigeria and Lebanon expressed curiosity and despatched via their proposals for consideration by the Board,” the assertion mentioned.
After a number of months of deliberation, the assertion mentioned the Board settled on Achour Holdings, operators of Grand Lancaster chain of resorts and subsequently secured the signing of a lease settlement with the corporate on Might 18, 2022 pending fulfilment of pre-operating circumstances.
“The phrases of the lease settlement included however not restricted to the next; a main 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 have to be mentioned {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 mentioned.
The conclusion and signing of the lease settlement the assertion mentioned, meant a re-branding of the Golden Tulip Accommodations to Lancaster Accommodations efficient from the lease begin date. Consequently, the names of the resorts have been modified to Lancaster Accra and Lancaster Kumasi Metropolis
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