Nigeria’s Hospitality Sector offers Fastest Return on Investment Globally – Protea Founder

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The fastest Return on Investing in Africa, globally has been offered the hospitality sector of Nigeria, says Otto Stehlik. Stehlik, The Chairman of BON Hotel Group and the founder Protea, once Africa’s largest hotel group, passed the statement at a dinner with the professionals and stakeholders in the hospitality industry. He joined with Protea executives and his son Guy Stehlik (founder BON hotel) for the dinner at Logos Yacht Club.

After selling Protea to Marriot, Stehlik anticipates that BON Hotel Group will find its way to become the top luxury hotel in Nigeria. He announced the inaugural of 12 hotel branches by 2018. To him, BON is set to be the continental operator in the region and Africa always remains challenging as well as an exciting place to manage the hotel.

Stehlik also remarked that Nigeria, with its growing economy and a population of over 180 million, offers a great potential for the progress and growth of hospitality industry.

He added that there is a need to use potential by an expansion of hotels and helping the hospitality industry in line with the expansion in other industries and manufacturing processes in the country. He stressed the importance of strategic setup of the hotels considering the way to launch a hotel, the kind of hotel which is needed, knowing the target market and analyzing the ROI in the near future. He claims that Nigeria’s hospitality industry is starts offering ROI just after one year which is encouraging as compared to the normal ROI time period across the world, which is from 3 to 4 years.

He continued that the current ROI results have been encouraging and there this not the only thing which makes him happy. The good thing is the growth results in quality and makes the clients happy. The hotels are suitable for the travellers, government officials and businessmen. Now it is the time to spread the services across the country to serve more and more people and help the industry as well. Stehlik added that he joined BON hotel and his son (the founder of BON) and he is happy to see the progress which his son made acting on his instructions. He revealed that a number of BON managers had been initially trained in Protea branches. It has contributed to the competitive advantage which BON hotel has in Nigeria.

He kept addressing that he currently has 12 hotels in Nigeria and after teaming up with one of the major shareholders, Paul Umoh and the Bernard Cassar (Executive Director), he is confident of opening 12 more hotels in Nigeria by mid-2018. It will ultimately make BON the No.1 hotel company in the country. According to the Chairman Africa Alliance Group, Mr Gregory Ozegbe, the partnership is set to work on the documentation to direct the process and procedure chain to enable the hotels to operate well across the country. He added in his introductory remarks that the hotel has created job revenues because the Nigerian companies will be sought to fill the vacancies, instead of foreign outsourcing. It will also decrease the cost as well.

Ozegbe talked about those who try hotel industry to turn black money into white money and he criticized this practice. He also criticized those who think that hotel management doesn’t require much professionalism. He said that approximately 90% Nigerian hotels had been established with these false thoughts and they did get disappointed whereas BON’s management is keen about quality, professionalism and knowledge-based processing.

According to Ozegbe, the focus of BON currently remains at 2 to 4-star hotels and they will climb the ladder gradually. He added that there is a huge demand for 2-star and 3-star hotels in the country but the available hotels are not properly managed or certified.

Ozegbe also added that the government has to work on tourism and hospitality industry to make it more fruitful. It can issue funds from the Central Bank to help the industry but the funds should be issued with low-interest rates.

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