SINPF and O’Neill Remington Group now co-owners of King Solomon Hotel

By Loretta B Manele

Solomon Islands National Provident Fund and the O’Neill Remington Group from Papua New Guinea are officially the new co-owners of King Solomon Hotel.

Manasseh Sogavare, minister for the Ministry of Finance and Treasury highlighted this at the handing over ceremony of the hotel which was held at the hotel yesterday.

He said the two parties have signed a joint venture agreement to be the co-owners of the hotel in which SINPF owns 55 percent and O’Neill Remington Group 45 percent.

Sogavare expressed that the new hotel will help transform the skyline of our national capital.

“It will provide one additional hub for tourists and business visitors to our country and provide a home away from home for ordinary Solomon Islanders travelling from our provinces to Honiara.”

Sogavare pointed out that the majority share is owned by members of the Solomon Islands National Poverty Fund, the people of Solomon Islands.

He said this will be a symbol of national unity in our country.

Peter O’Neill of O’Neill Remington Group also shared his remarks at the occasion.

He said hotels are building blocks for tourism industry in any country and he is very certain that this is not going to be their only investment in this sector in Solomon Islands.

O’Neill expressed that they are also looking forward to other ventures.

“We have been able to travel in your lovely country over the last few weeks and we have witnessed some of the most exotic and beautiful places in the world.

I am certain that the future for tourism industry in this country is very bright and we look forward to being a very strong partner in that.”

Jimmy Rodgers, Chairman of SINPF board also took the opportunity to share their plans for the new hotel.

He said they are hoping to have five suites to help hotels to accommodate leaders who will be in the country for the forum leaders meeting.

Rodgers stated that they will also go into retaining operation of all the rooms and have them transformed whilst increasing the workforce at the hotel.

Meanwhile, it is understood that the SINPF and O’Neill Remington Group will employ all former 69 employees of the hotel.

Rodgers mentioned that this is the third hotel SINPF has invested in.

“This is the third hotel, because we have a share in the resort in Papua New Guinea. So, we are now slowly growing that footprint.”

Susan Kennedy, former King Solomon Hotel owner congratulated SINPF and O’Neill Remington Group on acquiring the hotel.

“My family and I are delighted to extend our sincerest congratulations to you on the successful acquisition of the King Solomon Hotel. This milestone marks the combination of many years of negotiations but as they say all good things come to those who wait.”

Kennedy said they are confident that under experienced leadership, the hotel will be ushered into a new era of excellence in tourism and hospitality in Solomon Islands.

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