The Social Security and National Insurance Trust (SSNIT) has confirmed that it is still pursuing strategic investors to help revitalise some of its loss-making hotels under the Golden Beach Hotels Group.

Appearing before the Public Accounts Committee (PAC) on Friday, November 7, 2025, SSNIT’s Director-General, Kwesi Afreh Biney, said the move forms part of broader efforts to improve the performance and profitability of hotels that continue to face financial challenges.

Mr. Biney clarified that the plan does not cover all SSNIT-owned hotels.

“We are seeking a strategic investor for La Palm Beach Hotel and Elmina Beach Resort. However, for SSNIT Guest House, Ridge Royale, and Labadi Beach Hotel, we do not intend to seek any strategic support. These three hotels will continue to operate independently,” he stated.

He noted that Labadi Beach Hotel remains one of SSNIT’s most successful ventures, generating profits of about GH¢80 million in 2024 and paying GH¢16 million in dividends in 2023.

“Labadi Beach Hotel is performing very well. It has consistently made profits and paid dividends. We have no plans to bring in a strategic partner for that entity,” Mr. Biney added.

SSNIT’s hotel portfolio has faced intense public scrutiny since 2024, when it emerged that the Trust was in talks to sell a 60% stake in four hotels to Rock City Hotel Limited, owned by Dr. Bryan Acheampong, Minister for Food and Agriculture and Member of Parliament for Abetifi.

The proposed sale involved La Palm Beach Hotel, Labadi Beach Hotel, Ridge Royal Hotel, and Elmina Beach Resort.

The deal, however, sparked significant public and political backlash, led by North Tongu MP Samuel Okudzeto Ablakwa, who raised concerns about transparency and potential conflicts of interest.

Following sustained criticism, Rock City Hotel eventually withdrew its bid, leading Organised Labour to call off a planned nationwide strike in protest of the sale.

SSNIT says its renewed effort to attract investors will focus strictly on commercial viability, transparency, and long-term value creation for contributors.