"Transcorp Hilton to Establish Hotel in Lagos"

 Following its successful years of partnership with the Hilton Worldwide, the Transnational Corporation of Nigeria Plc (Transcorp) has disclosed plans to develop a new hotel in the Ikoyi area of Lagos state. 

The proposed Transcorp Hilton Lagos, a full service, 350-room hotel to be located on Glover Road, Ikoyi, would be the Hilton Group's second hotel in Nigeria with Transcorp. The first was the Transcorp Hilton Hotel Abuja, which is one of the leaders in Hilton's global network. The new hotel would be jointly owned by Transnational Hotels and Tourism Services Limited (THTSL), Transcorp’s hospitality arm, and Heirs Holdings, the pan-African proprietary investment company chaired by Mr. Tony Elumelu.

Speaking at the official signing of the management contract between both parties which took place 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.”

Continuing, he Elumelu: “It is going to employ a lot of people. It is going to help position Nigeria further as an investment destination which is good for the country and for everyone. It further helps to demonstrate that if you have a Nigerian group that is partnering an international brand like Hilton and you are growing the partnership, then for others who would like to invest in Africa, then you have in Africa and in Nigeria, willing investors and partners that can co-invest with you. “So Africapitalism, is a commitment and call on the private sector to invest in key sectors that have the capability to transform the African economy and in the process help to create economic prosperity and wealth. By investing, we are demonstrating confidence in the African economy.”

In his remarks, the Managing Director/Chief Executive of THTSL, Mr. Valentine Ozigbo, said the Transcorp Hilton Lagos would finally grant the many Hilton customers who visit the city their desire to see a world-class establishment under their preferred brand in the Lagos. Full construction works for the new hotel is expected to commence early next year. The hotel would boast of full conference facilities, meeting rooms, gym and spa, and a swimming pool in an iconic design that will certainly add verve to the Lagos landscape, the promoters said.

Report from (THISDAY)