Members of the FNPF, whose funds exceeding $80 million have been invested in the Natadola Bay resort, will not be privy to the detailed financial information on the performance of the resort.
Fijivillage has questioned the Fund on how the resort is performing and whether satisfactory revenue is being generated to recover the invested funds.
The FNPF said all it can reveal is that the Intercontinental Fiji Golf Resort & Spa is currently showing reasonable occupancy and room rates and generating reasonable revenue but the detailed financial information is commercial in confidence between FNPF and managers, InterContinental Group.
The Fund added that quite clearly, the long term plan is to generate acceptable return on FNPF's investment in the project, however at the moment the hotel is suffering like all tourism projects worldwide.
It said with the passing of the Global Financial Crisis, tourism related projects should again be able to generate sizeable returns.
Resort performance confidential-FNPF
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