FNPF acquires full ownership of Grand Pacific Hotel

The staff of Grand Pacific Hotel showing the balcony where the Duke and Dutchess of Sussex waved after the traditional welcoming ceremony at Albert Park earlier this year. This is the same balcony where Queen Elizabeth II and the Duke of Edinburgh waved from in 1953. Picture: JOVESA NAISUA

THE Grand Pacific Hotel is now full owned by the Fiji National Provident Fund (FNPF).

The fund has confirmed that it acquired the remaining 75 per cent shares of the Grand Old Lady from Papua New Guinea partners – National Superannuation Fund (NASFUND) and CGA Properties Limited.

In a statement released moments ago, FNPF chief executive officer Jaoji Koroi said the investment was part of the fund’s active growth investment strategy.

He added it was aligned to increasing the fund’s value chain in the tourism and hospitality industry, a critical pillar of Fiji’s economy.

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