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Centenary City – Quick Facts

260 Luxury Villas 265 Apartment Buildings 13 Waterfront Retail Areas 139 Office Buildings 466,298sqm integrated golf community 30 Floors of Luxury Apartments – Africa Square and Tower 46 Floors of Premium Offices – Africa Square and Tower 5 Major Retail Centers 36,000sqm of Leisure and Amusement Parks  5.5km Formula 1 Track See some commentary on […]

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ei Profile: Lee Moulton – Breather

Breather is one of the latest iterations of the shared economy which allows users to rent private rooms for an hour at a time. It is currently operational in 4 North American cities but the company envisions a global network of spaces that freelancers, entrepreneurs and business travellers can use. Its model of on-demand, hourly workspace, […]

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Development: Summit Hills, Calabar – Cross River

Name: Summit Hills; Location: Cross River State, north of the City of Calabar; Size: 367 hectares; Use: Mixed Use including a Convention Centre, Hotel, Golf Course and Clubhouse, Nature Reserve, Hospital and Residences; Developers: Mixture of Government and Public Private Partnerships; Opened: May 2015. Summit Hills is a development located north of the City of Calabar, […]

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The owners of Intercontinental Hotel are divesting

It has been reported that the Milan Group, owners of InterContinental Hotel in Victoria Island Lagos are keen on selling 25 per cent of their stake in the hotel. Thisday reported that the debt had been hampering the operations of the hotel, which has been operating at a loss since last year. It was explained that the group is willing to sell 25 per […]

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New Radisson Blu hotels for Accra and Kampala

The company made this announcement on October 1st at the Africa Hotel Investment Forum, which was recently held in Addis Ababa, Ethiopia.  Carlson Rezidor has signed new deals for the development of two Radisson Blu hotels in both Accra, Ghana and Kampala, Uganda. Radisson Blu Accra Airport The Radisson Blu Accra Airport will be located at […]

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Accor to potentially acquire Louvre Hotels Group

Accor, the Paris-based hotel group, is reportedly a top contender for the acquisition of the Louvre Hotels Group, which is currently owned by the U.S.-based Starwood Capital Group.  Starwood Capital, a private investment firm with a focus on global real estate (and onetime owner of Stawood Hotels) obtained the Louvre Hotels portfolio as part of its acquisition of Taittinger’s hotel […]

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Transcorp Hotels in N8bn ($49m) IPO

Transcorp Hotels (Nigeria) intends to raise US$48.8m (N8bn) through an IPO, which commenced marketing on Sept. 25th and is expected to close on Oct. 17th.  The hotel company will offer 800 million ordinary shares to investors at 10 naira per share. Transcorp Hotels is the hospitality subsidiary of Transcorp (Transnational Corporation of Nigeria Plc) and it plans […]

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Ebola Impact on Lagos Hospitality & Travel Market

Preliminary data, as reported by Bismarck Rewane, of Financial Derivatives Company, has shown a significant drop in hotel occupancy since the first reported case of Ebola in Lagos State. The disease has been reported in Guinea (where the first case was reported), Liberia and Sierra Leone.  Ebola made its first reported appearance in Lagos, Nigeria in […]

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$500 million investment in Starwood hotels coming to Nigeria’s hotel market

The Nigerian hotel market will see an estimated $500 million in investment with the planned addition of five Starwood hotels in the coming years.  This was revealed this weekend, in a monthly report by financial services firm, Financial Derivatives Company (FDC), presented at the Lagos Business School’s executive breakfast meeting by Bismarck Rewane, Managing Director/Chief […]

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Lagos has 5th Highest Hotel Average Room Rate

According to the latest Hotel Survey from HRG, supercities led the charge in global hotel room rate rises. Historically, average room rates (ARR) tend to be affected on a national basis, but this report demonstrated that this was no longer the case. Individual “supercities” (destinations popular for both business and leisure visitors) are increasingly becoming bigger players in […]

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