SINPF takes control of King Solomon Hotel 55%

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The Solomon Islands National Provident Fund today unveiled its newest investment as it takes control of the majority shares in King Solomon Hotel, 55%, partnering with former PNG Prime Minister Peter O’Neill’s (O’Neill Remington Group) who holds 45%.

The joint venture takes over from the former owners of King Solomon Hotel Mrs. Susan Kennedy and Mr. Shamus Kennedy.

Today, in a significant milestone the key of the hotel was handed to the CEO of SINPF Michael Wate by Susan, marking a new era in the hotel’s journey, which had been owned by three different people before today’s ceremony.

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Minister of Finance Manasseh Sogavare has spoken highly of the SINPF board and its management for the new undertaking with their partners O’Neill Remington Group.

O’Neil likewise expressed his joy in the new partnership promising to improving the services of the hotel in the years ahead.

• More to come