Golden Tulip now Lancaster Hotel but not sold – Management

Golden Tulip now Lancaster Hotel but not sold - Management
Golden Tulip Hotels’ managers have refuted rumors that their Accra and Kumasi locations had been sold.

Management of former Golden Tulip Hotels, now Lancaster Hotel has clarified the hotel has not 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.

The Group, citing recent modifications to regulatory standards in its nation of residence, hinted that its arrangement will not be renewed at the end of 2021.

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

Following this review, the leasing option was chosen, and in accordance with standard procurement procedures, businesses were invited to submit their lease proposals for the Golden Tulip Hotels.

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.

Golden Tulip now Lancaster Hotel but not sold – Management 

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