Hilton and Transcorp Hotels, a subsidiary of Transnational Corporation of Nigeria, have announced the signing of a 20-year extension to the current agreement to manage the Transcorp Hilton, Abuja.
The agreement will see Hilton manage the property until 2037.
The hotel, which is a national landmark for having hosted countless heads of state and global events like the World Economic Forum on Africa, has been operated by Hilton since its opening in 1987.
Speaking at a signing ceremony in Washington DC, Chris Nassetta, Hilton president, said: “We have had an incredible relationship with the Transcorp team and we are happy to announce that we will continue to grow that relationship throughout the next 20 years.
“With our mission to be the world’s most hospitable company, I am delighted we will be able to continue welcoming guests to this hotel until at least 2037.”
The award-winning 667-room hotel – one of the largest in sub-Saharan Africa – is currently undergoing a multi-million dollar renovation which will transform the property.
The extensive refurbishment will continue the Transcorp Hotels legacy as the leading provider of hospitality in Nigeria.
Tony Elumelu, chairman of Transcorp, the largest listed conglomerate on the Nigerian stock exchange and owners of hospitality subsidiary Transcorp Hotels, confirmed: “We are delighted to continue our long-standing owner-operator relationship with Hilton.
“Our investment in the renovation reflects our commitment to shaping Nigeria into a leading hospitality centre in the West Africa region and with Hilton as our operating partners, we are confident that we will continue to lead in the sector.”
Hilton and Transcorp Hotels have two additional properties in the development pipeline.
Furthermore, Hilton expects to open six hotels in the next six months across Africa, and open properties in 15 countries where it currently does not operate in the next three years.
Hilton, which has more than 5,000 hotels globally, has had a continuous presence in Africa for more than 50 years, expects to more than double its current presence across the continent in the next five years.