Rock City Hotel owned by Agriculture Minister Bryan Acheampong has withdrawn its ‘controversial’ bid to purchase the 60 percent shares of four Hotels owned by the Social Security and National Insurance Trust (SSNIT).
A statement from the hotel said: "Flowing from all the commentary monitored and the undue negativity that has attended this commentary, we feel you have not done enough to engage all your stakeholders, leading to perceptions that we don't want to be associated with our brand.
“We believe that such negativity is not only injurious to our brand but also jeopardises the success of the investment we intend to make in these hotels.”
"Therefore, we are writing to inform you of our decision to withdraw our bid and discontinue our pursuit of this investment opportunity."
Their decision comes after Organised Labour threatened to embark on a strike on Monday, July 15 if SSNIT proceeds with the decision to sell the Hotels.
The hotels are La Palm Beach Hotel, Labadi Beach Hotel, Royal Ridge Hotel and Elimina Beach Hotel.
