Labadi Beach Hotel declares GH¢25m dividend to SSNIT

Labadi Beach Hotel, a premier 5-Star facility, has presented an unprecedented dividend of GH¢25million for the year 2022 to its sole shareholder, Social Security and National Insurance Trust-SSNIT, at a ceremony in Accra.

It will be recalled that in February this year, the hotel presented dividend of GH¢10million to its shareholder for the year 2021. This remarkable achievement is a testament of the hotel’s resilience and resolve to operate profitably despite the many economic challenges.

“As we honour our obligation of declaring dividends to the shareholder today, it is important to acknowledge the overwhelming support and patronage of our valued customers who continue to make us number-one,” said David Eduaful, Managing Director of the hotel.

In its 32 years of operation, Labadi Beach Hotel has been Ghana’s pride in the hospitality industry for delivering world-class services to its cherished guests, both local and international.

The hotel’s location – 8.7km from the airport and central business district of Accra, and set amid tropical landscaped gardens adjacent to one of Accra’s most popular beaches – is ideal for business and leisure travellers, as well as nature lovers.

With an initial 104 rooms built in 1991, Labadi Beach Hotel has expanded its room capacity to 164: including two Presidential Suites, four Executive Suites, four Superior Suites, five Bars, two restaurants, a 900-seat multi-purpose conference and banqueting facility.

Other facilities include a spa carefully designed for couple and individual needs with plunge pool, a well-equipped gym, a lagoon for fishing, and two plush leisure and lap pools on a sprawling landscaped garden overlooking the natural Maale Lagoon.

The emergence of this iconic hotel has attracted many guests including the British monarchy, heads of state, prime ministers and very important personalities who continue to make Labadi Beach Hotel their preferred resort for business and leisure activities.

Commenting on the historic payout to SSNIT, Board-Chairman, Professor Douglas Boateng said: “SSNIT respects the board and has allowed us to perform our fiduciary responsibilities with virtually no interference from the 100 percent shareholder”.

Mr. Eduaful attributed the historic payout to “unwavering support from the board of directors, hard work of management and the entire staff, and recently implemented cost-cutting and waste minimization measures”.

He further stated that: “Labadi Beach Hotel, being the first five-star hotel in Ghana and owned by Ghanaians, has distinguished itself as the best hospitality facility in the country providing exceptional services to patrons. With our commitment to service excellence, the business and leisure traveler is guaranteed the right ambience and amenities in our hotel to ensure their purposes and ambitions are achieved without any compromises”.

Mr. Eduaful stressed that having employees with the right mindset and attitude – and being consistent with service delivery – is key in achieving the company’s overall goals. “We continue to invest in the hotel’s human capital to be able and ready in responding to demands of today’s guests”.

The hotel’s strength f the hotel was tested in June this year, when they provided catering services (breakfast, lunch and dinner) for nearly four thousand delegates who attended the 30th Anniversary and Annual General Meeting of Afreximbank in Accra.

‘’In the area of education, we are proud to have churned out professionals of whom some are doctors, lawyers, accountants, entrepreneurs etc. through our educational scholarship scheme, instituted to benefit children of our hardworking staff,” Mr. Eduaful observed.

Labadi Beach Hotel is indeed an establishment that goes beyond its core mandate to create a family and be a socially responsible member of the community it serves. This has seen the hotel embark on the noble project of sponsoring cost of surgery for one-hole-in-heart patient every year, through a partnership with the Children’s Heart Foundation Ghana.

Also, its partnership with Street Academy Ghana to provide food for over 100 street children every Friday has been a great delight. Since 1998, the hotel has taken pleasure in organising Christmas and New Year parties for 150 cured lepers at Christ the King Parish in Accra and the Weija Leprosarium, he added.

“Companies can declare profits but not necessarily pay out dividends. If shareholders appoint the right board and allow them to responsibly discharge their duties, the end result is accountable governance and consistent performance. The best of Labadi is yet to come; and yes, we can,” Prof. Boateng concluded.