Peter O’Neill’s Remington Group Expands from Papua New Guinea to Solomon Islands with Landmark Hotel Deal
The Remington Group, owned by Papua New Guinea’s former Prime Minister and businessman Peter O’Neill, has announced its expansion into the Solomon Islands following a partnership agreement with the Solomon Islands National Provident Fund (SINPF). The collaboration will see the two parties jointly acquire and redevelop the iconic King Solomon Hotel in Honiara.
According to reports, the agreement was formalized through a Memorandum of Understanding (MOU) signed recently in Honiara. Under the terms of the deal, SINPF will hold majority ownership in a newly established joint venture company, while the Remington Group will provide capital investment and operational expertise to oversee the hotel’s redevelopment and ongoing management.
SINPF Chairman Sir Jimmie Rodgers expressed optimism about the partnership during the signing ceremony. He reportedly stated that the collaboration represents a significant step forward for the fund’s members and the country’s tourism sector. Sir Jimmie highlighted that all 75 current employees of the King Solomon Hotel would be retained under the new joint venture, benefiting from the Remington Group’s extensive experience in managing successful hospitality ventures in Papua New Guinea.
Sir Jimmie also praised Mr. O’Neill as a visionary Melanesian businessman whose proven track record and clear vision for tourism development align with the Solomon Islands’ growth aspirations. He described the partnership as a timely opportunity to elevate the King Solomon Hotel into a world-class establishment and position the Solomon Islands as a competitive player in the global tourism market.
Reports indicate that Mr. O’Neill has visited the Solomon Islands multiple times over the past five weeks, including trips to provinces outside Guadalcanal, to explore investment opportunities. Speaking at the MOU signing, he reportedly remarked on the country’s vast tourism potential, citing its safe and picturesque environment, existing air and seaport infrastructure, and proximity to millions of potential tourists eager to discover the archipelago.
Mr. O’Neill emphasized that redevelopment work on the King Solomon Hotel is scheduled to begin in March, with upgrades planned to roll out in phases over several years. He expressed confidence in delivering a top-tier hospitality experience while ensuring long-term value for stakeholders, particularly SINPF members.
Both parties extended their gratitude to their respective boards and management teams for their efforts in finalizing the agreement. Also present at the signing were Susan Kennedy and Shamus Kennedy, the current owners of the King Solomon Hotel, signaling their support for the transition.
The partnership is being hailed as a strategic move to boost the Solomon Islands’ tourism industry by leveraging private-sector expertise and fostering cross-border business ties. As plans progress, anticipation grows around how this initiative could transform the King Solomon Hotel into a cornerstone of the nation’s tourism offerings.
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