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: Fraser Suites
- Room cost/night: N583,000-N4million
Attia Nasreddin is the Chairman and CEO of Nasco Group Nigeria, a major player in Nigeria’s industrial sector with interests spanning manufacturing, agro-business, and real estate.
He holds a Bachelor’s degree in Political Science from the American College of Switzerland. Attia joined the family business in 1981 as Managing Director of Nasco Estate Company Limited and went on to hold several leadership roles in both Nigeria and Europe. Since 2004, he has led the group’s operations as Chairman and CEO.
Nasco Group was founded in 1963 in Jos by his father, Ahmed Idris Nasreddin, and has grown into a conglomerate known for backward integration and value-chain development in Nigeria’s economy. As part of its diversification strategy, Nasco partnered with the Royal Pacific Group to develop Fraser Suites Abuja, a premium 10-story serviced apartment complex in the city’s Central Business District.
Commissioned in 2018 by former President Muhammadu Buhari, Fraser Suites was heralded as Nigeria’s first 7-star hotel. Managed by Frasers Hospitality, it combines global luxury standards with strong local investment.
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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