Tony Elumelu, chairman, Heirs Holdings, left, and Rudi Jagersbacher, president, Hilton Worldwide Middle East & Africa, sign the management agreement

Building on its successful years of partnership with the Hilton Worldwide, Transnational Corporation (Transcorp), a publicly quoted conglomerate based in Nigeria, today announced a new premier hotel development in the upmarket suburb of Ikoyi in Lagos.

The proposed Transcorp Hilton Lagos, a full service, 350-room hotel on Glover Road, Ikoyi, will be the Hilton Group’s second hotel in Nigeria by Transcorp, following the award-winning Transcorp Hilton Hotel Abuja, which is one of the leaders in Hilton’s global network. 

The new hotel will be jointly owned by Transnational Hotels, Transcorp’s hospitality arm Tourism Services, and Heirs Holdings, the pan-African proprietary investment company chaired by African business leader, Tony Elumelu.

Speaking at the official signing of the management contract between both parties, which took place at Heirs Holdings’ offices in Lagos, Elumelu said: “This agreement marks another milestone in our long-standing partnership with Hilton Worldwide.

“The Ikoyi development, along with the extensive refurbishment and upgrade of our existing hotels in Calabar and Abuja, demonstrates Heirs Holdings’ commitment to driving growth in real estate and hospitality, a strategic sector for Nigeria’s economic development.

“The new Transcorp Hilton Lagos will not only present an additional world-class venue for the increasing numbers of investors, businessmen and tourists to Nigeria, but is creating much-needed jobs for our citizens, enabling their social and economic development.”

Construction work for the new hotel will commence early next year.

The hotel will boast of full conference facilities, meeting rooms, gym and spa, and a swimming pool.