On January 31, 2025, the Chairman of the Solomon Islands National Provident Fund (SINPF),Dr. Jimmie Rodgers, and Peter O’Neill of the O’Neill Remington Group signed a memorandum of understanding (MOU) to enter into a partnership to purchase, jointly own, and operate the iconic King Solomon Hotel.
“I am delighted to announce, on behalf of the SINPF Board, that under this MOU we have agreed to partner with Hon. Peter O’Neill of the O’Neill Remington Group to purchase and redevelop the King Solomon Hotel,” said Rodgers.
“SINPF’s members will be the majority owners in a new company alongside the O’Neill Remington Group, who will provide both capital and expertise to lead the ongoing operations of the King Solomon Hotel and oversee its redevelopment.”
“The seventy-five employees of the King Solomon Hotel will be employed under our proposed new joint venture company and will benefit from the leadership and experience of the O’Neill Remington Group, who have successfully managed two hotels in Papua New Guinea.”
“A Melanesian businessman like Peter O’Neill, who has a proven track record and a crystal-clear vision for the development of not only the King Solomon Hotel but also the entire tourism industry in our country, is just what is needed,” Rodgers said.
Mr. O’Neill, who has made three separate visits to the Solomon Islands in the last five weeks, including several side trips to provinces outside of Guadalcanal, remarked, “The Solomon Islands has huge potential with a safe and beautiful environment for visitors. The support from the Government towards genuine tourism investors, along with established air and seaport infrastructure and millions of potential tourists on our doorstep who are all curious about the Solomon Islands, makes investing here very positive.”
“I and my team look forward to supporting our majority partner, the Solomon Islands National Provident Fund, to deliver a top-class King Solomon Hotel. The redevelopment will commence in March and continue in phases over several years.”
Both Chairman Rodgers and Peter O’Neill expressed their profound thanks to their Board members and management teams for their hard work in bringing the partnership under the MOU to a successful completion at today’s signing in Honiara.
Present at the MOU signing were the current owners of King Solomon Hotel, Mrs. Susan Kennedy and Mr. Shamus Kennedy.
