Tuesday, November 19, 2013

IMO CONCORDE HOTEL, SOLD OR LEASED TO ABM GLOBAL LIMITED, FOR 20 YRS?



 IMO CONCORDE HOTEL, SOLD OR LEASED TO ABM GLOBAL LIMITED, FOR 20 YRS?
What are the value and cost of the transaction?
The Imo state government has denied media reports accusing the state government of selling the state owned five star Hotel, Concorde. In a statement signed by the Senior Special Assistant to the Imo State Governor, Mr. Sam Onwuemeodo, and made available to the media in Owerri, the state
government insisted that it did not sale the hotel built over 30 years ago by the then administration of the Late Chief Sam Mbakwe, to any individual or organization, stating that the property remains that of the state government.

It would be recalled that the state government leased out the hotel to ABM Global Limited, which signed a 20-year lease management agreement with the owner, Imo State government. ABM Global Limited in turn sub-leased the hotel’s management to South Africa-based Silverstar Hospitality to bring the newly refurbished Imo Concorde back to its former glory. 

Whatever the case, most Imo citizens would like to know the value of the transaction of one of their cherished edifice; fondly called the ‘Five Star Pearl East of the Niger’ in the early 1980s when it was unveiled by late Governor Sam Mbakwe.
Imolites, what’s your take on this? Let’s hear from you.

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