SSNIT outlines steps it took to 'save' struggling hotels

The Social Security and National Insurance Trust (SSNIT) has announced steps it took to make their hotels profitable.

According to a statement released on July 29, 2024, SSNIT indicated that they invested cash in the hotels.

Apart from the investments, SSNIT says they restructured the ownership of the hotels, brought in private hotel managers, and made changes in their management and board where necessary.

SSNIT said that although they saw some improvement, the performance of the hotels was low. They indicated that this was far below what they require to finance growth and capital expenditure.