No employee of the Lancaster Hotel, formerly known as the Golden Tulip Hotel, would lose their job or source of income, according to the Ghana Libyan-Arab Holding Company (GLAHCO), after the hotel's 12-year lease with Achour Holdings, the owners of the Grand Lancaster network of hotels.
From the start date of the lease, which is July 1st, 2022, the Golden Tulip Hotels will operate under the Lancaster Hotels name. The hotels were renamed Lancaster Accra and Lancaster Kumasi City as a result.
According to a statement from the management, the former lessee, Louvre Hotels Group (LHG) of France, said it would not extend its lease with GLAHCO at the end of December 2021, which prompted the latter to start the recruitment process for a new tenant.
The hotels have not been sold, contrary to what has been reported in the media.
The Libyan and Ghanaian governments jointly own Golden Tulip Hotels, with the Libyan government owning a 60 percent majority ownership and the Ghanaian government a 40 percent minority stake.
According to a management agreement with the French Louvre Hotels Group (LHG), the Golden Tulip brand was managed. The corporation indicated that the agreement will not be renewed at the end of December 2021, citing recent modifications to the regulatory framework in their country of residency, according to the statement.
"The Board of Directors started the process of assessing possibilities for replacing the management contract as part of their mission to make decisions on the strategic direction of the firm with enhanced terms of engagement that provide a higher return on investment in the hotels and subsequently boost shareholder value," it was noted.
In accordance with standard procurement procedures, businesses were asked to submit offers for leasing the Golden Tulip Hotels after the leasing option had been chosen through this evaluation process, the statement added. Four businesses from four different nations, including Ghana, Tunisia, Nigeria, and Lebanon, expressed interest and submitted applications for the Board's consideration.
After much thought, the board decided on Achour Holdings, the owners of the Grand Lancaster network of hotels, and obtained the signing of a leasing agreement with the firm on May 18, 2022, subject to the satisfaction of pre-operating requirements, it said.
Way ahead
The Lancaster Hotels in Accra and Kumasi will be upgraded to a 5-star classification by Achour Holdings, which operates such establishments in a number of nations.
GLAHCO reaffirmed its unwavering dedication to doing the business of Lancaster Hotels in an ethical and prudent way.
According to the firm, Golden Tulip Accra also needed a 1,000 square metre contemporary meeting centre built. It must be acknowledged that one crucial investment the hotel needed to make in order to increase its revenues and compete favourably in a market that has witnessed the arrival of extremely respectable brands over the years was a state-of-the-art convention facility.
The Golden Tulip Hotels were rebranded as Lancaster Hotels as of the lease start date as a result of the conclusion and signing of the leasing agreement. The hotels were renamed Lancaster Accra and Lancaster Kumasi City as a result.