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: Marriott Hotel Ikeja
- Cost of room per night: N583,635- N3.9 million
The Lagos Marriott Hotel Ikeja is owned by Mac-Folly Hospitality Limited, a subsidiary of Nigeria’s SIFAX Group, and is managed by Marriott International.
Dr. Taiwo Olayinka Afolabi is the founder and Chief Executive Officer of SIFAX Group, a Nigerian conglomerate with operations spanning maritime, aviation, logistics, oil and gas, and hospitality. He established the company in 1988, guiding its transformation from a modest freight business into one of West Africa’s most prominent integrated service providers.
Located in the heart of Ikeja GRA on a 7,000-square-meter site, the 251-room, seven-story hotel was completed in May 2021, following a groundbreaking ceremony in 2014. Designed by G1 Architecture and constructed by Dori Construction and Engineering, the hotel blends contemporary design with global luxury standards.
Room rates range from approximately N583,635 ($378) for standard rooms to N3.9 million ($2,539) for the Presidential Suite. The hotel offers a full suite of amenities, including a grand ballroom for up to 1,000 guests, executive lounges, and a business center with boardrooms and meeting spaces.
It features several dining options, including an all-day restaurant, specialty outlets, and a rooftop bar, alongside leisure facilities such as a spa, gym, and outdoor pool. Strategically located near Murtala Muhammed International Airport, the hotel serves both business and leisure travelers.
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