The Ghana Libyan-Arab Holding Company (GLAHCO) says no employee of Lancaster Hotel, formerly Golden Tulip Hotel, will lose his/her job and livelihood, following the leasing of the hotel for 12 years to Achour Holdings, operators of Grand Lancaster chain of hotels.
The rebranding of the Golden Tulip Hotels to Lancaster Hotels, takes effect from the lease start date of July 1st, 2022. Consequently, the names of the hotels were changed to Lancaster Accra and Lancaster Kumasi City.
In a statement, the management explained that the previous leasee, Louvre Hotels Group (LHG) of France indicated that it would not renew its agreement with GLAHCO at the end of December 2021, prompting the latter to begin processes to get a new company on board.
Therefore, the hotels have not been sold as reported in the media.
Golden Tulip Hotel is a joint venture between the Libyan Government and the Ghana Government with the Government of Ghana holding a minority stake of 40% and the 60% majority stake held by the Libyan Government.
“The Golden Tulip brand was operated under a Management Contract with Louvre Hotels Group (LHG) of France. The company gave indications of non-renewal of the agreement at the end of December 2021 citing recent changes in regulatory guidelines in their country of residence,” the statement explained.
“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,” it added.
Furthermore, the statement said “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. Four companies from four different countries namely Ghana, Tunisia, Nigeria and Lebanon expressed interest and sent through their proposals for consideration by the Board.”
“After several months of deliberation, the Board settled on Achour Holdings, operators of Grand Lancaster chain of hotels and subsequently secured the signing of a lease agreement with the company on May 18, 2022 pending fulfilment of pre-operating conditions”, it added.
Achour Holdings runs five-star hotel in a number of countries and intends to raise the status of Lancaster Hotels in Accra and Kumasi to that level.
GLAHCO reiterated its unflinching commitment to managing the affairs of Lancaster Hotels in a transparent and judicious manner.