Chairman for Solomon Islands National Provident Fund (SINPF) Sir Dr. Jimmie Rodgers and the O’Neill Remington Group’s Hon. Peter O’Neill on Friday, 31st January signed a memorandum of understanding (MOU) to enter into a partnership to purchase and jointly own to operate the iconic King Solomon Hotel.
“I am delighted to announce, on behalf of the SINPF Board that under this MOU we have agreed to partner with the Hon. Peter O’Neill of the O’Neill Remington Group to purchase and redevelop the King Solomon Hotel,” said Chairman of SINPF, Sir Jimmie Rodgers.
“SINPF’s members will be the majority owner in a new company alongside the O’Neill Remington Group who will provide both capital and expertise to lead the ongoing operations of the King Solomon Hotel and also lead the redevelopment of this landmark hotel.
“The seventy-five employees of the King Solomon Hotel will be employed under our proposed new joint venture company, will benefit from the leadership of the experience of O’Neill Remington Group who have two successful hotels in Papua New Guinea.
“A Melanesian businessman like Hon. Peter O’Neill who has a proven track record and a crystal-clear vision for the development not only of the King Solomon Hotel but of the whole tourism industry in our country, is just what is needed concluded Sir Jimmie Rodgers.”
Mr. O’Neill has made three separate visits to the Solomon Islands in the last five weeks and several side trips to provinces outside of Guadalcanal remarked; “the Solomon Islands has huge potential with a safe and beautiful environment for visitors.
“The support from Government towards genuine tourism investors; air and seaports in place and millions of potential tourists on our doorstep who are all curious about the Solomon Islands, makes investing here very positive.
“I and my team look forward to supporting our majority partner the Solomon Islands National Provident Fund to deliver a top-class King Solomon Hotel with the redevelopment to commence in March and continue in phases over a number of years.”
Both Chairman Sir Dr Rodgers and Hon. O’Neill passed on their profound thanks to their Board members and management teams for their hard work in bringing the partnership under the Memorandum of Understanding to a successful completion at today’s signing in Honiara.
Present at the MOU signing are the current owners of King Solomon Hotel Mrs. Susan Kennedy and Mr. Shamus Kennedy.
- NPF
Photo caption: Dr. Jimmie Rodgers and the O’Neill Remington Group’s Hon. Peter O’Neill, following the signing of memorandum of understanding (MOU) as other officials look on.
