African hospitality brand makes inroad in Nigerian market
The current perception of Africa as an emerging market has convinced many investors to seek possible investment opportunities in the continent. One sector that has seen a tremendous growth in this regard is the hospitality sub-sector of the tourism industry. International hospitality brands have been adding thousands of bed spaces in Nigeria in the last couple of years.
Nigeria is among the first three countries leading the charge in hospitality property investment in the continent. Lagos has received the highest number of international hospitality brand investments.
Although big brands like the Marriott, the Radisson Group and the Golden Tulip are thriving in Nigeria ,some indigenous continental hospitality brands seem to have found the environment difficult and have thus pulled out. Brands like the Protea, Sun International, African Sun and few others have no serious presence owning to what they described as difficult economy. Others like the Southern Sun have become part and parcel of the hospitality landscape in the country and are doing fairly well.
Read Also: Eko Hotels goes eco-friendly in business
Currently, an indigenous African hospitality brand, the Icon Hotel Group (IHG), is making an inroad into the continent’s market, especially Nigeria, with high profile five and four-star properties.
Having built a reputation with Mount Meru Hotel and Palace Hotel both in Arusha,Tanzania and also part of the Mzizima Towers in Dar es Salaam,Tanzania, IHG is aggressively pushing into the Nigeria market.
The magic appears to spring from its ability to blend professional competence with indigenous African flair ,its core philosophy of homegrown hospitality management and a deep and holistic understanding of the hospitality sector in Africa.
Within just ten years of corporate existence, IHG has rapidly evolved as a powerhouse in the African hospitality sector with operations in Kenya, Nigeria, Tanzania, The Maldives, Benin, Congo Brazzaville, Burkina Faso and Togo, among others. It is providing end to end hospitality management solutions that span from project conceptualization to execution, equipping, commissioning and management.
It has already has transformed BWC Hotel on Victoria Island Lagos.IHG also manages the Royal Spring Palm Hotel – By Icon- Owerri.
It is also spreading its tentacles to nearby Benin Republic where it is developing the $30 million five star Best Western Premier Breeze Hotel, and Sinoconst, the proposed Chinese contractors for the Hotel development.