Protea Hotels and Capital Alliance Nigeria (C.A.N.) have formed a partnership with specific intention to create an extensive tourism route throughout Nigeria. Capital Alliance Nigeria is an investment and advisory company focused on promoting private sector-led investments within Nigeria and other West African countries. This, coupled with Protea’s substantial experience in Africa, is expected to ensure the growth of the hospitality and tourism industry in this country.
The focus of the growth is aimed at Nigeria’s three primary cities, namely Lagos, Abuja and Port Harcourt, as well as secondary cities, which include the capital cities of the various States. In order to achieve this, five properties have been secured and will be developed and marketed as ‘unique concept hotels’.
Three new hotels will be built, namely Protea Hotel Lagos, Protea Hotel Oakwood Park, and Protea Hotel Victoria Island. The other two properties will be significantly upgraded and renovated, and will receive new management and marketing structures, these include Protea Hotels Apapa Apartments and Protea Hotel Nike Lake Resort.
Whilst Protea Hotels are responsible for the management and marketing of these hotels, Capital Alliance Nigeria will take on a range of tasks such as financial advisory and investment structuring services; preparing the business plans, investment proposal and placement memorandums; identifying potential investors and assisting in the fund raising etc.
It has been more than ten years since a hotel has been built in Nigeria - let alone a 4-star hotel, which is to achieve Premier Protea Hotel status! Protea Hotel Lagos, set to open later this year, will be the first of the 3 hotels which are to be built, and will be set on a prime waterfront site, on Victoria Island, Lagos.
Whilst managed and marketed by Protea Hotels and carrying the Protea name, this property is owned by the renowned Honeywell Group. Headed by Chief Oba Otudeko, the Honeywell Group is one of Nigeria’s leading indigenous conglomerates, with interests in oil and gas, engineering, marine services, deep sea trawling, flour milling and investments. The group is expected to act as lead investor and project co-promoter; assist in developing an overall business strategy for the project; assist in marketing and providing access to investors and customers; assist in overseeing the project and provide land to be valued as equity contribution to the project.
“It was primarily due to the foresight, leadership and persistence of the Enugu State Governor, Dr Chaimaroke Nnamani and his team, that Protea Hotels initially considered investing in Nigeria, and we are absolutely thrilled to be part of a new era in the history of Nigeria’s hospitality industry,” said Otto Stehlik, Executive Chairman of Protea Hotels.