Nigeria’s luxury hospitality market is growing steadily and quietly with strong investor confidence, regional business travel, and a growing appetite for premium experiences among Africa’s elite.
Despite a drop in overall ranking, Nigeria is now second on the 2024 Hotel Development Index with 7,622 rooms across 50 new hotel projects.
This is driven by the aggressive growth strategies of international brands like Marriott International, Hilton, Radisson Hotel Group, and Leva Hotels, with Lagos leading development and Abuja trailing in project execution.
Lagos, Nigeria’s economic capital and most populous city, remains the hotel investment hub, attracting global chains and local entrepreneurs. Its strategic location, international airport, and corporate presence have made it a magnet for luxury hotel development, particularly in Victoria Island, Ikoyi, and Ikeja. Abuja, the political capital, is stalled in pipeline projects, many of which are still in pre-planning stages.
Against this backdrop, many Nigerian business moguls, foreign investors, and regional conglomerates are behind some of the country’s most expensive hotels.
Here’s a listing in no particular order of fifteen owners redefining Nigeria’s luxury hospitality in 2025.
- Hotel Owned: Federal Palace Hotel
- Cost per night- N440,000
Anthony Leeming is the Chief Executive Officer of Sun International Group, a role he has held since 1 February 2017. He brings over 14 years of experience in the hotels, resorts, and gaming industries, having joined the Group in 1999 as Group Financial Manager.
Anthony was appointed as Chief Financial Officer and an Executive Director of the Board on 1 March 2013, after previously serving as a key finance leader within the Group. He also serves as a director for several Group companies, including Sun International Management Limited (SIML), where he has been responsible for corporate and SIML finance since 1 July 2009.
Federal Palace Hotel, established in 1960, was originally built by the A.G. Leventis Group to accommodate dignitaries visiting Nigeria during the country’s independence celebrations. Strategically located in Victoria Island, Lagos, the hotel quickly became a symbol of prestige and sophistication. It was acquired by the Nigerian government in 1964 but faced years of inconsistent management, leading to periods of decline and partial revival.
In 1992, the government sold the hotel to the Ibru family through Ikeja Hotel Plc for $50 million, outbidding South Korea’s Daewoo Corporation. This marked a significant shift in ownership and began a new phase of private management. In 2007, South African hospitality giant Sun International acquired a 49% stake in the hotel and took over its operations, introducing world-class standards in hospitality and gaming.
However, by 2019, internal disputes within the Ibru family over control of the property prompted Sun International to announce plans to exit the investment. In 2024, Sun finalized the sale of 43% of its stake to an entity affiliated with the family of Alex Ibru, effectively transferring more control back to Nigerian hands.
Now I know the owner of Bon Hotels and locations it extends. The price per night is actually for exquisite Business men. Wonderful piece very insightful
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