Ocean Bay, Sunbeach hotels under receivership

Mamos Media

By Tabora Bojang

Ocean Bay and Sun beach hotels have been finally taken over by Augustus Prom consultancy firm.
A document dated 5 April 2017 confirmed the private firm as custodians of the two hotels although the hotels’ day-to-day operations are still under the same management.

The two five-star hotels are properties owned by the Social Security and Housing Finance Corporation, SSHFC, which were leased to BP Investment in 2014 for a 15-year period.
The two parties (SSHFC and BPI) have had strained relationship just four years into the contract, with the SSHFC calling for its termination while the BPI filed an injunction to the high court for the corporation’s request to be withheld.

Source: The Standard newspaper

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