SINPF acquire King Solomon Hotel

The Solomon Islands National Provident Fund (SINPF) Board, through its newly formed company, King Hotel and Resorts Limited, has acquired all assets of Honiara-based Solomon Islands Resorts Limited, commonly known as King Solomon Hotel. The deal includes the hotel’s trading name, "King Solomon Hotel."

This follows approval from the Minister of Finance, authorizing SINPF to invest in the acquisition and continue operating the hotel under King Hotel and Resorts Limited. The new company will retain the King Solomon Hotel name and immediately employ all 69 former staff members of Solomon Islands Resorts Limited, effective today, February 21, 2025.

Negotiations for the purchase began in 2013 between SINPF and the late Shane Kennedy and his wife, Susan Kennedy. After years of discussions, a final price of $50 million was agreed upon for the assets, including land across five separate parcels and all equipment.

Following the acquisition, SINPF has partnered with the O’Neill Remington Group as co-owners of King Hotel and Resorts Limited, with SINPF holding a 55% stake and Remington Group owning 45%. The hotel will continue operating under the King Solomon Hotel name as it moves forward under this new ownership structure.