Renaissance Lagos Ikeja Hotel Opens Amidst Thorny Recession

Capital Hotels

After many years of planning, Marriott International, Inc., is ready to unveil Renaissance Lagos Ikeja Hotel in Lagos, Nigeria’s commercial capital.

The hotel is centrally located in Ikeja, the administrative capital of Lagos. Hospitality analysts who commented on the proposed opening of the hotel concurred that the location is a very strategic made by Marriot.

Renaissance Lagos Ikeja Hotel is hosted by a host of other smaller and medium sized hotels that are competing for the expatriate and travelling guest and few tourists who come into the country. The Lagos Sheraton Hotels, Protea Hotels and other indigenous brands are close by, the entire vicinity of is a major hospitality for Lagos mainlanders.

Marriott International, Inc. has disclosed that the Renaissance Lagos Ikeja Hotel has 155 guestrooms including 17 contemporary loft suites.

To stress its positioning as a tourist and leisure hotel, the company said “We have got you covered with 8 meeting rooms on the 2nd floor with a dedicated bar and flexible breakout areas. Local attractions include National Railway Corporation Museum, Afrika Shrine and Kalakuta Museum”, the company said

For many years, Lagos Sheraton Hotels has dominated the entire Ikeja axis as the number one tourist, business and leisure host. This time around, Renaissance Lagos Ikeja Hotel will give its owners a ‘run for their money.

Renaissance Lagos Ikeja Hotel has no connection with De Renaissance Hotel in Ikeja. The hotel opened in 2013 and it is been managed by a local partner.

The launch of the hotel is coming at a time when Nigeria’s economy is neck deep in the worst recession never seen in 20 years. Hospitality industry analysts claim the market has lost revenue 60% revenue year on year.

Last month Sun International, a 44% shareholder in Federal Palace Hotels in Lagos Island opted out of the partnership citing management squabbles and harsh economic condition. However, the problem of the hotel is beyond the management of the company. Last week, Tourist Company of Nigeria disclosed that the hotel made a net loss of NGN5.5 billion in the third quarter of the year. Sun International has still not gotten a buyer for its stake in the debt laden hotel group.

Marriott International, Inc., is a global leading lodging company with more than 5,700 properties in more than 110 countries. Marriott International reported revenues of more than $14 billion in fiscal year 2015. Founded by J. Willard and Alice Marriott and guided by Marriott family leadership for nearly 90 years, the company is headquartered in Bethesda, Maryland, USA.

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