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Libyan-Appointed Manager Told To Step Down

Breaking news: Lake Victoria Hotel seized

Wolfgang H. Thome, eTN  Mar 30, 2011

UGANDA (eTN) - The Laico-owned and operated Lake Victoria Hotel in Entebbe, once the grand old dame of the hospitality industry in Entebbe, was, according to breaking news just received, also seized yesterday late in the day, when the Libyan-appointed managers were told to hand over to a Ugandan senior manager who was made Acting General Manager until further notice.

In related developments, board seats also appear to have been frozen while the Ugandan government has taken custody of the Libyan-owned shares in the company, expanding the UN sanctions and asset freeze orders into the hospitality sector, too.

Contrary to a flurry of rumors, the hotel has NOT closed down nor have operations been affected, although creditors will undoubtedly be very anxious to be paid their outstanding bills in time and are not likely to extend further credit until the situation is fully clarified.

The management of the hotel then declined to answer phone queries, but one staff did mention under condition of strict anonymity that the relieved general manager was overheard to refer callers to the Libyan Embassy for information before vacating the premises.

Breaking news: Lake Victoria Hotel seized
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