Can hotel business be lucrative in Nigeria?
Nigeria is well known to be one of the most naturally endowed countries in the world. Rich in different mineral resources like crude oil, coal, and limestone etc., Nigeria is well visited and therefore has been involved in supporting and developing the world’s economy. Many have visited for business purposes as well as for sightseeing or tourism purposes. Besides visitors from foreign countries, locals from different states in Nigeria travel from one state to another for different purposes. Nigeria has many commercial states such as Onitsha, Kano, Lagos, Ibadan etc. where the locals travel to for residency and exchange of services. It will totally be irrational that an important country as Nigeria cannot provide good and comfortable hotels for visitors from across the world; many Nigerians are therefore into hotel businesses for so long and this business has turned out to be very lucrative.
Nigerian entrepreneurs invest mostly in hotels, and it turns out profitable for them if the hotel in question does not lack proper management. The question now is: are all the hotels in Nigeria profitable and lucrative to their owners? The answer could be yes or no. If yes, then there are many things the owner might have put into consideration before commencing the investment. The first consideration is the site or location of the hotel. For a lucrative hotel business, an entrepreneur must site the hotel at the centre of the city – the heart of the city where everything modern can be found. Building a hotel in a rural area in Nigeria where people are sparsely populated with poor amenities is really a bad idea. Popular states as well as state capitals in Nigeria such as Enugu, Lagos, Onitsha, Ibadan, and Akwa Ibom etc have many hotels which are fetching the owners cool incomes because the hotels are located in the heart of the towns.
Another consideration is the services the hotels in question offer. People lodge in hotels in Nigeria and any other places and expect comfort, luxury, and quality services. Entrepreneurs who strive to provide quality services tend to be more successful than others. Come to think of it, so many hotels are very popular while some are not. The successful ones have their hotels well equipped and more secured than others. Another reason why they are very successful is probably because of their humble employees who are very respectful and competent workers.
One’s answer to the question above might also be no. If it is no, then the reverse of the above points could be the barrier between a hotel entrepreneur and his money. Therefore, for a lucrative hotel business in Nigeria, ensure it is properly cited, has all modern facilities, and managed by experienced and professional hotel managers.
