Golden Tulip now Lancaster Hotel but not sold – Mg

golden tulip

Golden Tulip Hotels’ managers have refuted rumors that their Accra and Kumasi locations had been sold.

The Hotels, according to Ghana Libyan-Arab Holding Company (GLAHCO), have not been sold.

They clarified in a statement released on Monday that the French Louvre Hotels Group (LHG) managed the Golden Tulip brand.

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But the Group made it clear that its contract wouldn’t be renewed at the end of 2021, citing recent modifications to the legal framework in their own nation.

The Board of Directors as part of their mandate to make decisions on the strategic direction of the company began the process of evaluating options for replacement of the management contract with a more improved terms of engagement that offers a better return on investment in the Hotels and consequently increase value to its shareholders

Through this review process the leasing option was selected and in line with general procurement processes, companies were invited to present proposals for lease of the Golden Tulip Hotels

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Four businesses from four different nations—Ghana, Tunisia, Nigeria, and Lebanon—expressed interest and submitted proposals for the Board’s consideration.

The Grand Lancaster hotel chain’s operator, Achour Holdings, is said to have won the Board’s support after a protracted search.

Therefore, on May 18th, a leasing agreement was signed.

According to the contract, the facilities have been leased and not sold for 12 years, according to GLAHCO.

The beginning of the lease’s activities will officially begin on Friday, July 1, 2022.

The lease was finalized and signed, which resulted in the Golden Tulip Hotels’ rebranding as Lancaster Hotels as of the lease’s commencement date.

The hotels’ names were so altered to Lancaster Accra and Lancaster Kumasi City.

A joint venture between the governments of Ghana and Libya created Golden Tulip Hotels, with the government of Ghana owning a minority stake of 40% and the government of Libya owning the majority stake of 60%.

Every employee will be safeguarded and “will not lose their jobs and livelihood,” according to GLAHCO.

“GLAHCO consequently requests that the general public ignore claims that government shares in Lancaster Hotels were sold.

“GLAHCO affirms its unwavering dedication to doing the business of Lancaster Hotels in an ethical and prudent manner.

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