The Social Security and National Insurance Trust (SSNIT) has earned a dividend of GHS10 million accruing from the shares it owns with Labadi Beach Hotel, a major player in the hospitality industry for 2021 financial year.
Coming from the hard-hit COVID-19 year of 2020, the accumulated dividend for the year has been unprecedented in the 42-year existence of the Hotel.
Mr Joseph Appau Boateng, Senior Investment Analyst, SSNIT, commended the management and staff of the hotel for their contribution towards the management of the facility and for making it possible to make the huge returns at a time organisations are still recovering from the ravages of COVID-19 pandemic.
Professor Douglas Boateng, Interim Board Chairman of Labadi Beach Hotel, also credited the staff of the hotelfor this achievement. “We owe this achievement to the staff. Despite all the challenges, they are able to deliver customer driven service quality, enabling both local and international clients to patronize the hotel”.
The Interim Board Chairman noted that with their supervisory role and strict governance principles, the Hotel would continue to deliver the best services, adding that “the Ghanaian, given the opportunity can equally deliver for the shareholder and the society as a whole”.
Mr. David Eduaful, Acting Managing Director of the Hotel, on his part, noted that the success story could be attributed to innovative approaches, adaptation of the highest standards of operation, and service delivery by dedicated staff who went the extra mile to exceed the expectations of customers.
The Facility Continues to Invest in Human Capital
Mr. David Eduaful intimated that despite the current global economic and financial challenges occasioned by the coronavirus pandemic, the facility would continue to invest in human capital to readily respond to the demands of guests. “Labadi Beach Hotel has provided purposeful and meaningful services and environment over the years,” he said.
Since its inception in 1991, the Hotel has led Ghana’s hospitality industry by providing quality services to its cherished guests, whilst contributing immensely to Ghana’s tourism sector.
With 104 rooms at the beginning of its operation, the 5-Star Hotel can now boast of 164 rooms including 2 Presidential Suites, 4 Executive Suites, 4 Superior Suites, 5 Bars, 2 restaurants, a 900-seater multi-purpose conference and banqueting facilities.
The facility also has a spa with plunge pool, well equipped Gym, Lagoon for fishing, two plush Leisure and lap pools on a sprawling tropical landscaped garden overlooking the natural Maale Lagoon.
The Hotel was jointly built by Lonrho Africa Hotels, Ashanti Goldfields Company and the Social Security and National Insurance Trust (SSNIT) in the year 1991 as Ghana’s Premier five-star Hotel.
With an initial 22.5 per cent shareholding, the Labadi Beach Hotel is now fully owned by (SSNIT) and has won many awards, including the recently coveted CIMG Hospitality Facility of the Year 2021, 2019, and 2018 and Best Events Hotel Venue 2019 and 2020. Meanwhile, the hotel is one of the many sectors that SSNIT has invested in.
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