Transcorp, Hilton Join Hands to Develop Lagos Hotel

Transnational Corporation of Nigeria Plc (Transcorp), a publicly quoted conglomerate, has announced the development of a new premier hotel in the upmarket suburb of Ikoyi, at a site earmarked for top-class development in Lagos.

The new Transcorp Hilton Lagos is expected to not only present an additional world-class venue for the increasing numbers of investors, businessmen and tourists to Nigeria, but is aimed at creating much-needed jobs for our citizens, enabling their social and economic development.

Speaking at the official signing of the management contract between both parties, which took place at Heirs Holdings’ offices in Lagos,, Tony Elumelu , chairman , Transcorp said the agreement with Hilton Worldwide marks another milestone in their long-standing partnership.

“The Ikoyi development, along with the extensive refurbishment and upgrade of our existing hotels in Calabar and Abuja, demonstrates Heirs Holdings’ commitment to driving growth in real estate and hospitality, a strategic sector for Nigeria’s economic development” , he added.

Besides, the development is part of the effort of Transcorp to build on successful years of partnership with Hilton. In a statement by , Dupe Olusola,  director, Resources, Transnational Corporation of Nigeria Plc revealed that the proposed Transcorp Hilton Lagos, a full service, 350-room hotel on Glover Road, Ikoyi, will be the Hilton Group's second hotel in Nigeria by Transcorp, following the award-winning Transcorp Hilton Hotel Abuja, which is one of the leaders in Hilton's global network.

It was also learnt that the new hotel will be jointly owned by Transnational Hotels and Tourism Services Ltd, (THTSL); Transcorp’s hospitality arm and Heirs Holdings, the pan-African proprietary investment company chaired by African business leader, Elumelu.

In his remarks, Valentine Ozigbo, managing director/CEO of THTSL, asserted that the Transcorp Hilton Lagos will finally grant the many Hilton Honors customers who visit the city their desire to see a world-class establishment under their preferred brand in the Lagos.

“Full construction works for the new hotel will commence early next year. The hotel will boast of full conference facilities, meeting rooms, gym and spa, and a swimming pool in an iconic design that will certainly add verve to the Lagos landscape” it was stated.