Chief Govt Officer of Coconut Grove Regency Resort, Mr Ralph Ayitey.
Coconut Grove Accommodations, considered one of Ghana’s main hospitality manufacturers, with services in Accra, Elmina and Obuasi, has introduced important value reductions of between 15% and 30% in response to the latest appreciation of the Ghanaian Cedi and a nationwide decline in inflation.
The choice comes as producers, airways, and companies throughout the casual sector start adjusting their costs downward, following sustained foreign money stability and decreased import prices.
In an interview with Myjoyonline, Ralph M.Okay. Ayitey, Chief Govt Officer of Coconut Grove Regency Resort, mentioned the lodge group is totally aligned with nationwide efforts to decrease the price of doing enterprise.
“All hospitality gamers in Ghana depend upon imported provides in a single type or one other,” Mr Ayitey defined. “Some depend on imported merchandise for as much as 75% of their wants. With the strengthening of the cedi, the price of a few of these imported gadgets, akin to linen, crockery, and even sure meals, has gone down.”
In keeping with him, Coconut Grove Accommodations has responded by lowering charges for visitor rooms, convention halls, banquet packages, and different companies by as a lot as 30%.
“These reductions are usually not simply promotional. They’re a mirrored image of our long-standing appreciation for our loyal clients,” he mentioned. “Our shoppers have stood with us by way of numerous phases of our work trip. It’s only proper that we give them the most effective worth, particularly at a time like this.”
When requested how lengthy the discounted charges would stay in place, given ongoing geopolitical uncertainties such because the Iran-Israel battle, Mr Ayitey mentioned he remained assured within the native financial technique.
“I don’t doubt in my thoughts that the federal government’s domesticated and indigenous strategy is contributing to the present enhancements. Enterprise thrives on belief and predictability; so does the economic system. All of us have a task to play in shielding Ghana from exterior financial shocks,” he famous.
Trying forward, Mr Ayitey referred to as for daring coverage interventions to consolidate the macroeconomic beneficial properties. He applauded initiatives such because the just lately launched Black Star Expertise, which he mentioned would enhance tourism and provides worldwide visibility to Ghana’s trend and artistic industries.
“It’s thrilling to see the President himself decide to strolling the catwalk on the launch. This sort of engagement sends a powerful message concerning the artistic economic system,” he remarked.
He additionally urged elevated funding in native poultry manufacturing and referred to as for help in the direction of Ghana’s struggling cotton business.
“We have to drastically reduce down on the $400 million spent yearly on poultry imports. As hoteliers, we should serve regionally sourced hen, duck, quail, and guinea fowl. This can assist retain worth throughout the native economic system.”
Mr Ayitey additional advocated for the institution of a first-class hospitality coaching institute to construct capability and help the rising pattern of Ghanaian professionals managing 3 to 5-star resorts throughout the nation.
“We should additionally supply affected person capital, loans with a 10-15 12 months window at a most rate of interest of 6% to 9% to companies able to spend money on enlargement or innovation,” he added.
Mr Ralph M.Okay. Ayitey shouldn’t be solely the CEO of Coconut Grove Regency Resort but additionally serves because the Nationwide Treasurer of the Affiliation of Ghana Industries (AGI).
His insights mirror a broader imaginative and prescient for native enterprise growth and financial resilience amid world uncertainty.
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DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially signify the views or coverage of Multimedia Group Restricted.
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