South-West Nigeria, comprising Lagos, Ogun, Oyo, Osun, Ondo, and Ekiti States, continues to attract significant investment in the hospitality sector.
According to industry data, Nigeria ranks among the top countries in Africa for hotel development, with 48 new projects and over 7,300 rooms slated for completion in 2025.
Despite the growing supply, inflationary pressures remain a key consideration for both investors and consumers.
Lagos State recorded a headline inflation rate of 14.7% year-on-year in August 2025, the lowest in the region, while Ekiti hit 28.2%, Oyo 26.6%, Ogun 24.3%, and Osun 22.1%, according to recent reports from the National Bureau of Statistics (NBS) and the Nigerian Inter-Bank Settlement System (NIBSS).
Within this economic context, certain hotels in the South-West stand out for their strong performance. These properties are distinguished by guest ratings, room capacity, cost per night, and strategic proximity to key commercial, cultural, and tourism landmarks. The combination of these factors has positioned some hotels as preferred choices for both leisure and business travelers, driving occupancy and brand visibility.
Let’s take a closer look at the owners behind the region’s most popular hotels and explore how their investments, strategy, and operational excellence have shaped the South-West’s hospitality landscape.
- Owners- Ikeja Hotel
- Location-Lagos
- Hotel rating –5-star
Ikeja Hotel Plc has steadily grown its footprint in Nigeria’s hospitality sector through the strategic development and acquisition of hotel and tourism properties.
As a key player in the industry, the company owns landmark hospitality assets, including Sheraton Lagos Hotel, Sheraton Abuja Hotel, and holds a significant stake in the Federal Palace Hotel & Casino.
Chief Anthony Idigbe, SAN, is the current Chairman of Ikeja Hotel Plc, the company that owns and operates the Sheraton Lagos Hotel. He succeeded Mr. Goodie Minabo Ibru, according to reports from Proshare.
The board of Ikeja Hotel Plc also includes Mr. Toke Alex Ibru, Mr. Ufuoma Ibru, Mr. Alexander Thomopulos, Mr. Kunle Aluko, Alhaji Abatcha Bulama, and Dr. Waheed Olagunju, as noted in the company’s official filings.
While these hotels are operated under global brands such as Marriott International, the physical assets are owned or significantly controlled by Ikeja Hotel Plc, a publicly listed company on the Nigerian Exchange.
