Oxford No. 1 Hotel rejects receivership claims, says facility remains under management's control

Oxford No. 1 Hotel management dismissed reports on Thursday, July 23, that the facility has been taken over by a receiver appointed by Cola Holdings Ltd, insisting that the hotel remains under the possession and control of Kensington Residential Partners 1 Limited (KRP1 Ltd). Management urged staff, customers, and the general public to disregard claims that a receiver has assumed control of the facility.

Oxford No. 1 Hotel was developed and is managed by KRP1 Ltd, a company jointly owned by its directors, Nana Kwame Bediako and Azad Cola. The project was financed through shareholder capital and a loan from the International Finance Corporation (IFC). The COVID-19 pandemic disrupted operations after the hotel opened in December 2019, affecting its ability to service the facility. Management alleged that while KRP1 Ltd was negotiating with the IFC to restructure the loan, Mr. Cola, through Cola Holdings Ltd, informed the company that he had personally settled the outstanding debt and subsequently demanded reimbursement. The dispute escalated after Cola Holdings Ltd secured a High Court order on July 21, 2026, appointing a receiver to take possession of the hotel.