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Hotel businesses in Ghana shrinking as cedi keeps depreciating – Hoteliers cry out

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The Ghana Hotels Association says the continuous depreciation of the Ghanaian cedi against major trading currencies is affecting their businesses. The National President of the association, Dr. Edward Ernest Ackah-Nyamike, said the economic challenges worsening the cost of living in Ghana adversely affect the hotel industry’s business. 

Dr. Ackah-Nyamike stated that the high lending rate and increase in taxation are among other things affecting the hotel industry in the country. 

“From last year till now, we have had some economic challenges that are affecting our business. Talk about inflation which has sent our cost of operation so high, the high lending rate, the cost of living, taxation, and regulation are among other things that are affecting the industry”

The national president, who disclosed this during the first National Executive Council (NEC) meeting held in Bolgatanga in the Upper East Region, called on government and regulatory bodies to create an enabling industry for the hotel industry to thrive.

He said the association will continue to provide customer service training for its members while ensuring the security of customers who patronise their services are protected.

The National Executive Council (NEC) comprises all regional chairmen and secretaries of the Ghana Hotels Association, all 11 national executives, and former presidents. The National Executive Council meeting which takes place every quarter of the year creates a platform for members to take stock of the activities of the association. 

The Upper East Regional Chairman of the association, Louis Tidan said members of the association have complied and worked closely with all regulatory bodies in the region on matters concerning the association. 

He appealed to the government to consider the region’s developmental gaps when property rates and levies are slapped on the hotel industry.

“The 1% tourism levy imposed by the GTA has seen the hospitality industry contribute millions of cedis to this levy. I am confident to say that we have contributed over 80% of these monies received by the authority. However, we have received nothing to support our businesses, not even in the form of loans. Also, the tourism grant was not supportive enough especially in this region. over 30 members but there was no meaningful amount disbursed to us by the authorities”, he said.

The Upper East Regional Minister, Stephen Yakubu lauded the contribution of the hotel industry in the region towards the growth of the tourism sector and the Ghanaian economy. 

Madam Yvonne Wunchua, Assistant Director 1 at the Regional Coordinating Council who read the minister’s speech said the Upper East Region is at risk of terrorist attacks because of its proximity to neighbouring countries. The minister, therefore, admonished hoteliers to be security conscious by improving their security features for the safety of people who patronise their services.

Source: A1Radioonline.com|101.1Mhz|Joshua Asaah|Ghana



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