Lagos' New Addition to Hospitality Market- Ibis Hotel Lekki

Lagos’ hospitality market has welcomed its first branded hotel completion in two years through the completion of Ibis Hotel Lekki, Lagos. The last notable branded hotel completion was Hyatt Regency Hotel Ikeja, delivered by Sentinel Hospitality Limited in 2024. Before its completion, the hospitality sector had been struggling with rising construction costs and persistent inflationary pressures. Hotel developments are particularly affected, as they require significant upfront capital and, unlike residential projects, which can receive alternative capital from off-plan sales to generate cash flow during construction. 

As development costs continue to increase, this leads to cost overruns, and to maintain strict brand standards, many developers have been forced to slow construction or secure additional financing, contributing to longer construction timelines across the sector. Currently, Estate Intel research reveals that one-third of projects in the hospitality pipeline remain on hold.

In the second quarter of 2026, Ibis Hotel, Lekki, Lagos became the latest addition to the hospitality market in Lagos after its soft launch in May 2026. This article profiles the newly opened Ibis Hotel and reviews other notable projects under construction in Lagos.

Ibis Hotel Lekki, Lagos

Ibis Hotel Lekki is a mid-scale hotel located on Providence Street, Lekki Phase 1, Lagos. The new hotel development comprises 120 keys and operates under the Ibis brand, part of Accor’s economy hotel portfolio. It is developed and owned by HDV Limited (Hotel Development Ventures), a Nigerian hospitality developer that also owns Ibis Hotel, Ikeja, Lagos.

Estate Intel first began tracking the construction of the Ibis Hotel Lekki, Lagos, in Q4 2021. Although the project was initially scheduled for completion in April 2025, the seven-floor development was ultimately completed and launched more than a year later.

Its extended construction period reflects the challenging operating environment facing hospitality developments in Lagos, where construction cost inflation, among other factors, has slowed project delivery. 

Amenities: Swimming pool, restaurants, conference and meeting facilities, and entertainment spaces.

Project Team

• HDV Limited  as the Developer
• Novarc Architects and Designs Ltd. as the Architect
• WhiteBricks as the Structural Engineers
• Sigma Spec Electromechanical Ltd as the MEP Engineer

 

Here are other hospitality projects in the pipeline.

While the Ibis Hotel, Lekki, Lagos has now entered the completed stock, here are other hospitality developments in the Lagos hospitality pipeline:

1. Novotel Hotel, Victoria Island

2. The Nook Hotel, Victoria Island

3. Citadines ApartHotel Lekki

4. Emerald Grand Hotel

5. Reiz Continental Hotel by Leva Lagos 

6. Courtyard by Marriott

7. NJS Royale Resort

There are over 4,700 keys in the hospitality pipeline spread across 33 projects.

According to W Hospitality Group’s Hotel Chain Development Pipelines in Africa 2026 report, Lagos maintains an active chain hotel pipeline of 33 planned projects totalling 4,721 rooms as of the first quarter of 2026, the third-largest across Africa’s cities, behind only Greater Cairo and Sharm El Sheikh in Egypt.

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