Come May 9, 2018, President Muhammadu Buhari will commission Nigeria’s first seven-star hotel, the Fraser Suites in Abuja. This is according to information disclosed yesterday by the hotel’s Communications Advisor, Haroun Audu.
According to Audu, a select group of some of Nigeria’s business elites had previously been invited on a tour of the Fraser Suites. More top executives, heads of international/regional bodies, and heads of non-governmental have been given invitations to partake in the launch ceremony.
The hotel is a ten-storeyed property which was developed and promoted by Nasco Group in partnership with Fraser Suites, a leading international serviced-apartment provider. As expected, the hotel is deluxe, with lots of state-of-the-art facilities put in place to ensure the comfort of business travelers in Nigeria’s capital city. It has a total of 126 guest rooms.
Created to convey a sophisticated residence in the city, the hotel’s 126 suites each come with Nespresso coffee machines, kitchenette and luxurious L’Occitane bathroom amenities.-Haroun Audu
What does this mean for Transcorp Hilton?
The launch of the hotel could mean stiffer competition for Transcorp Hilton Hotel. Fraser hotel is currently constructing a large hall which may be ready before the end of the year. This could chip into Transcorp’s niche market.
Recall that Transcorp Hotels Plc (the owners of the Transcorp Hilton, Abuja) recently earmarked about ₦40 billion for the renovation of the hotel.
Results for the first quarter ended March 2018 show Transcorp Hotel (the company) made revenues of ₦3.7 billion as against ₦2.7 billion in the comparative period of 2016. Profit after tax also increased from ₦400 million in 2017 to ₦597 million in 2018.