Starwood to inject $176 million into Nigeria hotels
The Starwood Hotel Group, managers of the Sheraton and Le Méridien brands, has announced it will invest N26.6 billion (US$176 million) in Nigeria‘s hospitality industry over the next two years.
The Daily Independent newspaper reported the president of Starwood for Europe and Africa, Roeland Vos, revealed this during a luncheon in Abuja last week.
Vos said the funds will be used for the renovation of the group’s existing hotels and for the construction of two new facilities.
The group currently has five hotels in Nigeria, these are:
- Sheraton Abuja Hotel (Abuja, Federal Capital Territory)
- Sheraton Lagos Hotel (Lagos State)
- Four Points by Sheraton Lagos (Lagos State)
- Le Méridien Ogeyi Place (Port Harcourt, Rivers State)
- Le Méridien Ibom Hotel & Golf Resort (Uyo, Akwa Ibom State)