Radisson Blu owner plans $400m new investment in Nigeria

Carlson Rezidor, owners of Radisson Blu has concluded plans to invest about $400 million into the Nigerian hospitality industry in the next four years.

The company said it would open additional six hotels in Nigeria under its various brands, adding that its already has three hotels operational in Nigeria out of which two are based in Lagos.

Disclosing the investment plans in Nigeria during the opening of 155-rooms Radisson Blu Hotel in Ikeja Lagos, the Senior Vice President, Business Development, Africa and Indian Ocean for Carlson Rezidor, Mr. Andrew Mclachlan, said the group would add three more properties in Nigeria before the end of the year.

According to him, “We have identified Nigeria as key country for scaled growth and the addition of our second Radisson Blu in the megacity of Lagos perfectly complements our development strategy”

He said that Nigeria’s economy is turning positively and there are a lot of green shoots for growth.

“We are quite bullish about Nigeria because hotel business is a long term project. Most contracts are into 20 years agreement; so we are not looking at Nigeria of today. We think Nigeria has all the right fundamentals over a 20 year period to be a great place to do business. In Africa, Nigeria and S/African are the two markets that have great growth potential.”Andrew said.

Asked why Carlson Rezidor is managing already build hotels, he stressed that it was contained in the group’s development strategy as it has about 50% take up of exiting hotels for management.

With the opening of the Ikeja Radisson Blu Hotel in partnership with Avalon Intercontinental Nigeria Limited, an international independent hotel group, Carlson Rezidor now has a portfolio in Africa of 85 hotels and over 17,800 rooms in operation.