August 15, 2022

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Golden Tulip Resorts now not offered; leased for 12 years – Control

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The control of Golden Tulip Resorts, the Ghana Libyan-Arab Protecting Corporate (GLAHCO) says the resorts have now not been offered as reported within the media.

It mentioned the resorts have as an alternative been leased to Achour Holdings, operators of Grand Lancaster chain of resorts, for 12 years.

In a observation, the control defined that the former leasee, Louvre Resorts Crew (LHG) of France indicated that it will now not renew its settlement with GLAHCO on the finish of December 2021, prompting the latter to start processes to get a brand new corporate on board.

“Via this evaluate procedure the leasing choice used to be decided on and in keeping with common procurement processes, corporations had been invited to give proposals for hire of the Golden Tulip Resorts. 4 corporations from 4 other international locations specifically Ghana, Tunisia, Nigeria and Lebanon expressed pastime and despatched their proposals for attention via the Board.

After a number of months of deliberation, the Board settled on Achour Holdings, operators of Grand Lancaster chain of resorts, and therefore secured the signing of a hire settlement with the corporate on Might 18, 2022, pending fulfilment of pre-operating prerequisites,” the observation mentioned.

Many media studies closing week indicated that the Ghana govt, which owns 60% stake, and Libya with 40% stake in Golden Tulip Resorts, had offered the resorts to a brand new investor.

However GLAHCO mentioned, “Golden Tulip Resorts have now not been offered, subsequently the mentioned allegation/statement is fake.”

It mentioned the hire settlement, starting off July 1, 2022, does now not constitute a sale of the resorts.

It showed that “the belief and signing of the hire settlement intended a re-branding of the Golden Tulip Resorts to Lancaster Resorts, efficient from the hire get started date. In consequence, the names of the resorts had been modified to Lancaster Accra and Lancaster Kumasi Town.”

Learn the overall observation beneath:

Ghana Libyan-Arab Protecting Corporate (GLAHCO) has taken realize of movement within the media alleging {that a} Lebanese corporate has bought the entire franchise of the Golden Tulip Resorts in Accra and Kumasi owned via a three way partnership between the federal government of Ghana and Libya.

GLAHCO needs to tell most people that, Golden Tulip Resorts have now not been offered, subsequently the mentioned allegation/statement is fake.

To start with, Golden Tulip Resorts is a three way partnership between the Libyan Govt and the Ghana Govt with the Govt of Ghana conserving a minority stake of 40% and the 60% majority stake held via the Libyan Govt.

The Golden Tulip emblem used to be operated beneath a Control Contract with Louvre Resorts Crew (LHG) of France. The corporate gave indications of non-renewal of the settlement on the finish of December 2021 mentioning fresh adjustments in regulatory tips of their nation of place of dwelling.

The Board of Administrators as a part of their mandate to make selections at the strategic route of the corporate started the method of comparing choices for alternative of the Control contract with a extra progressed phrases of engagement that provides a greater go back on funding within the Resorts and because of this build up worth to its shareholders.

Via this evaluate procedure the leasing choice used to be decided on and in keeping with common procurement processes, corporations had been invited to give proposals for hire of the Golden Tulip Resorts. 4 corporations from 4 other international locations specifically Ghana, Tunisia, Nigeria and Lebanon expressed pastime and despatched thru their proposals for attention via the Board.

After a number of months of deliberation, the Board settled on Achour Holdings, operators of Grand Lancaster chain of resorts and therefore secured the signing of a hire settlement with the corporate on Might 18, 2022 pending fulfilment of pre-operating prerequisites.
The phrases of the hire settlement incorporated however now not restricted to the next;
▪ A number one hire time period of 12 years AND NOT A SALE as alleged via the mentioned e-newsletter.

▪ The efficient date for the graduation of hire operations of July 1. 2022.

▪ The corporate used to be additionally required to build a contemporary convention facility of one,000 sq. meters for Golden Tulip Accra. It should be mentioned {that a} cutting-edge convention facility for the resort has been one key funding wanted for the resort to reinforce its revenues and compete beneficial on a marketplace that has observed the access of very respected manufacturers through the years.
The belief and signing of the hire settlement intended a re-branding of the Golden Tulip Resorts to Lancaster Resorts efficient from the hire get started date. In consequence, the names of the resorts had been modified to Lancaster Accra and Lancaster Kumasi Town.

Achour Holdings runs 5-star resort in quite a lot of international locations and intend to boost the standing of Lancaster Resorts in Accra and Kumasi (previously Golden Tulip) to that stage.

Within the Pastime of Ghana and its voters, GLAHCO as a part of the settlement with Achour Holdings ensured that each and every worker of Lancaster Resort is secure and won’t lose their jobs and livelihood.

GLAHCO subsequently calls on most people to omit allegations of sale of presidency stocks in Lancaster Resorts.

GLAHCO reiterates its unflinching dedication to managing the affairs of Lancaster Resorts in a clear and considered method.