Meet The Owners Of The 15 Most Expensive Hotels In Nigeria

Nigeria’s luxury hospitality market is growing steadily and quietly with strong investor confidence, regional business travel, and a growing appetite for premium experiences among Africa’s elite.

Despite a drop in overall ranking, Nigeria is now second on the 2024 Hotel Development Index with 7,622 rooms across 50 new hotel projects.

This is driven by the aggressive growth strategies of international brands like Marriott International, Hilton, Radisson Hotel Group, and Leva Hotels, with Lagos leading development and Abuja trailing in project execution.

Lagos, Nigeria’s economic capital and most populous city, remains the hotel investment hub, attracting global chains and local entrepreneurs. Its strategic location, international airport, and corporate presence have made it a magnet for luxury hotel development, particularly in Victoria Island, Ikoyi, and Ikeja. Abuja, the political capital, is stalled in pipeline projects, many of which are still in pre-planning stages.

Against this backdrop, many Nigerian business moguls, foreign investors, and regional conglomerates are behind some of the country’s most expensive hotels.

Here’s a listing in no particular order of fifteen owners redefining Nigeria’s luxury hospitality in 2025.

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15. Guy Stehlik: Founder, CEO BON 

• Owner of Bon Hotels 
• Room rate/night: N195,000-N500,000 

BON Hotels Nigeria is owned and managed by BON Hotels, a South African-based hotel group founded in 2012 by Guy Stehlik, a seasoned hospitality entrepreneur. The company operates, manages, and markets a growing portfolio of hotels, lodges, and resorts across Africa, with presence in Nigeria, South Africa, Namibia, Ethiopia, and Uganda.

In Nigeria, the group’s operations fall under BON Hotels International West Africa, led by hospitality veteran Otto Stehlik, who brings extensive regional experience. This West African portfolio reflects the brand’s strategic focus on providing tailored hospitality solutions that blend international standards with local relevance.

Founded by a management team with over 100 years of combined industry experience, BON Hotels has earned a reputation for professional hotel management, efficient operations, and guest-centric service across diverse African markets. Room rates at BON Hotels Nigeria range from N195,000 to N500,000, catering to both business and luxury travelers.

14. Movenpick 

• Hotel owned: Movenpick Ikoyi 
• Room rates/night: N285,000-N594,000 

Mövenpick Hotel Ikoyi Lagos, formerly known as Southern Sun Ikoyi, is owned by Kasada Albatross Holdings, a Mauritius-based subsidiary of Kasada Hospitality Fund LP.

The property was acquired in December 2022 from South African hotel group Tsogo Sun, in a deal valued at $30.4 million, comprising $29.1 million in shares and $1.3 million in shareholder claim loans. At the time of the transaction, Tsogo Sun held a 75.55% majority stake, while a Nigerian group held the remaining 24.45%.

Following the acquisition, management of the hotel transitioned to the Mövenpick brand, part of the Accor Group, underlining Kasada’s strategic partnership with Accor to enhance hospitality standards across Africa and the Middle East.

Kasada Hospitality Fund LP was co-founded in 2018 by Olivier Granet and David Damiba, both veterans in hospitality and finance. Olivier previously served as CEO of AccorHotels Middle East and Africa, where he oversaw 200 hotels in over 30 countries. David brings over 25 years of finance and fund management experience across Africa, having led structured inves

13. Milan Group/AMCON 

• Hotel Owned: Lagos Continental 
• Room cost/night: N639,000 – N1.3 million

Lagos Continental is an award-winning luxury 5-star hotel located in the heart of Victoria Island, Lagos. It is the tallest hotel in West Africa, featuring 358 elegant rooms, 37 suites, and a Presidential Suite. Room rates typically range from N639,000 to N1.3 million per night.

Originally launched in 2013 as Intercontinental Hotel Lagos, it was Nigeria’s first five-star hotel managed by Intercontinental Hotels Group (IHG). Developed by Milan Group at a cost of over $150 million, the hotel quickly became a hospitality landmark.

However, by 2017, IHG withdrew its branding due to unresolved financial and operational issues, including unpaid loans owed to Skye Bank (now Polaris Bank). The bank took receivership of the property, leading to legal disputes and management changes.

The hotel was rebranded as Lagos Continental Hotel and continues to operate under new management, though ownership reportedly remained with Milan Group.tments at Helios Investment Partners and Renaissance Asset Managers.

12. Attia Nasreddin-Chairman, Nasco Group Nigeria 

• Hotel Owned: Fraser Suites 
• Room cost/night: N583,000-N4million 

Attia Nasreddin is the Chairman and CEO of Nasco Group Nigeria, a major player in Nigeria’s industrial sector with interests spanning manufacturing, agro-business, and real estate.

He holds a Bachelor’s degree in Political Science from the American College of Switzerland. Attia joined the family business in 1981 as Managing Director of Nasco Estate Company Limited and went on to hold several leadership roles in both Nigeria and Europe. Since 2004, he has led the group’s operations as Chairman and CEO.

Nasco Group was founded in 1963 in Jos by his father, Ahmed Idris Nasreddin, and has grown into a conglomerate known for backward integration and value-chain development in Nigeria’s economy. As part of its diversification strategy, Nasco partnered with the Royal Pacific Group to develop Fraser Suites Abuja, a premium 10-story serviced apartment complex in the city’s Central Business District.

Commissioned in 2018 by former President Muhammadu Buhari, Fraser Suites was heralded as Nigeria’s first 7-star hotel. Managed by Frasers Hospitality, it combines global luxury standards with strong local investment.

11. Black Diamond Hotel 

• Room cost/night: N180,000 -N600,000 

Black Diamond Hotel is a premium hospitality development located in the heart of Victoria Island, Lagos. Developed by Black Diamond Hotel, the project brings a new level of luxury and comfort to one of Lagos’s most vibrant business and leisure districts.

Key Features 

• Total Rooms: 245 designed rooms tailored for comfort and sophistication.
• Staff Strength: Over 300 professionally trained personnel are committed to catering to customers.
• Nightly Rates: Prices range from N180,000 to N600,000 per night, depending on room type, capacity, and exclusive amenities, promising an experience of refined indulgence and personalized comfort.

Strategically situated among prominent developments such as AIB Plaza, Ark Towers, and the BUA Group Building, Black Diamond Hotel is poised to become a landmark destination for both local and international guests.

10. Gilbert and Ronald Chagoury – Founders, Eko Hotel & Suites  

• Cost per night: N240,000- N1.1 million 

Eko Hotels & Suites, established in 1977 as Eko Holiday Inn, is one of Nigeria’s most iconic and expansive hospitality landmarks. Located on Victoria Island, Lagos, the hotel was designed by renowned architect Oluwole Olumuyiwa.

It is owned by the Chagoury Group, a Nigerian-Lebanese conglomerate led by brothers Gilbert and Ronald Chagoury, whose diverse business empire spans construction, manufacturing, real estate, healthcare, and hospitality.

The hotel features 824 elegantly furnished rooms spread across four properties: Signature, Eko Suites, Eko Hotel, and Eko Gardens, offering guests city or sea views. Room rates range from N240,000 to N1.1 million per night, based on the hotel’s booking packages.

9. Stanley Uzochukwu-Founder, Delborough Hotels 

•  Room cost per/night: N467,925-N2.81 million 

The Delborough Hotel, formerly known as Stanel Hotel, is one of Nigeria’s newest ultra-luxury hospitality landmarks. Located in Victoria Island, Lagos, the hotel officially opened in 2023 and is developed by The Stanel Group, a fast-growing Nigerian conglomerate. With nightly rates ranging from N467,925($303)to N2.81 million($1,824), The Delborough caters to high-end clientele seeking exclusivity, comfort, and world-class service.

The hotel is the brainchild of Dr. Stanley Uzochukwu, a Nigerian billionaire entrepreneur and Group Chairman/CEO of Stanel Group, which is widely recognized as one of Africa’s fastest-growing conglomerates.

Under his leadership, the company has expanded into diverse sectors including energy, food production, retail, and now hospitality. Dr. Uzochukwu has also been appointed to various academic and business leadership boards, including the Governing Council of Igbinedion University and the Board of UNIZIK Business School, reflecting his influence beyond the private sector.

Situated among other major developments like AIB Plaza, Ark Towers, and the BUA Group Building, The Delborough Hotel adds a bold and opulent architectural presence to the Lagos skyline.

8. Jonas Schwarz Lausten –CEO & Co-owner, Nordic Hotel  

• Room cost/night: N215,000-N1.08million 

Nordic Hotel Abuja is a stylish, Scandinavian-inspired luxury hotel located in Nigeria’s capital and Lagos. It is owned by a group of partners, including Nwaya Chukwuemeka Collins, Anders Mogensen, Christian Schwarz Lausten, and Jonas Schwarz Lausten.

Jonas Schwarz Lausten, who is the current CEO of Nordic Hotels Nigeria, brings over a decade of experience in business development, project management, and hospitality leadership in emerging markets. Passionate about culture and storytelling, Lausten also created Studio Visits Nigeria, a podcast-turned-book highlighting the lives of contemporary Nigerian artists.

He, alongside the group, launched the first Nordic Hotels property in Nigeria in 2011, introducing a minimalist yet elegant hospitality concept that blends Nordic design with warm African hospitality.

Nordic Hotel Abuja is part of the growing Nordic Hotels Group, which also owns and operates Nordic Villa, a boutique lodging option also located in Abuja. The hotel has built a solid reputation for its tranquil atmosphere, exceptional service, and modern amenities tailored for business and leisure travelers alike.

With room rates ranging from N215,000 to N1.08 million per night, Nordic Hotel Abuja caters to a wide range of guests from executives seeking privacy to luxury travelers looking for comfort and exclusivity.,

7. Ramesh Kasangra-Chairman Capital Hotels Plc 

• Operates Abuja Continental Hotel 
• Cost per night N403,000-N1.03 million 

Abuja Continental Hotel, formerly known as Sheraton Abuja Hotel, is a landmark luxury destination owned and operated by Capital Hotels Plc, a premier hospitality company headquartered in Abuja. The hotel began operations in January 1990 and stands as the company’s flagship and only hotel property. Strategically located in Nigeria’s capital, the Abuja Continental Hotel offers a comprehensive hospitality experience, including high-end restaurants, serviced apartments, recreational facilities, a nightclub, and a business centre.

Room rates range from N403,000 to N1.03 million per night, depending on specifications and standards, showing the hotel’s luxury status.

Capital Hotels Plc was incorporated on January 16, 1981, and became a publicly listed company in 1986. After a temporary delisting, it regained its position on the Nigerian Stock Exchange in 2008.

The company is chaired by Ramesh Kansagra, a British-trained microbiologist and Managing Director of Solai Holdings Ltd (SHL), which boasts a diversified portfolio with a net asset value exceeding $600 million across sectors including hospitality, ceramics, petrochemicals, and agriculture.

6. Anthony Leeming: CEO, Sun International 

• Hotel Owned: Federal Palace Hotel 
• Cost per night- N440,000 

Anthony Leeming is the Chief Executive Officer of Sun International Group, a role he has held since 1 February 2017. He brings over 14 years of experience in the hotels, resorts, and gaming industries, having joined the Group in 1999 as Group Financial Manager.

Anthony was appointed as Chief Financial Officer and an Executive Director of the Board on 1 March 2013, after previously serving as a key finance leader within the Group. He also serves as a director for several Group companies, including Sun International Management Limited (SIML), where he has been responsible for corporate and SIML finance since 1 July 2009.

Federal Palace Hotel, established in 1960, was originally built by the A.G. Leventis Group to accommodate dignitaries visiting Nigeria during the country’s independence celebrations. Strategically located in Victoria Island, Lagos, the hotel quickly became a symbol of prestige and sophistication. It was acquired by the Nigerian government in 1964 but faced years of inconsistent management, leading to periods of decline and partial revival.

In 1992, the government sold the hotel to the Ibru family through Ikeja Hotel Plc for $50 million, outbidding South Korea’s Daewoo Corporation. This marked a significant shift in ownership and began a new phase of private management. In 2007, South African hospitality giant Sun International acquired a 49% stake in the hotel and took over its operations, introducing world-class standards in hospitality and gaming.

However, by 2019, internal disputes within the Ibru family over control of the property prompted Sun International to announce plans to exit the investment. In 2024, Sun finalized the sale of 43% of its stake to an entity affiliated with the family of Alex Ibru, effectively transferring more control back to Nigerian hands.

5. Andy Townsend and Jim Gordon: Co-founders, Legacy Hotels & Resorts 

• Owners of the Wheatbaker Hotel 
• Cost per night N231,000-N618,045 

The Wheatbaker, which opened in Nigeria in 2011, is a luxury boutique hotel owned and developed by Legacy Hotels & Resorts. Located in the affluent Ikoyi district of Lagos, it marked a significant milestone as Nigeria’s first art hotel.

With 65 tastefully designed guest rooms, The Wheatbaker offers a blend of comfort, sophistication, and cultural richness, attracting both local and international guests. Nightly rates range from N231,000 to N618,045, depending on the room category.

The hotel was named in tribute to Amos Shackleford, the property’s former owner, who was known for his wheat-baking business.

Legacy Hotels & Resorts is primarily owned by its founders, Andy Townsend and Jim Gordon, who together hold an 80% stake. Haider Jaffer, a fellow director, investor, and client, owns the remaining 20%. Additionally, Ensemble, a stakeholder in the business, has been involved in a legal dispute with the founders over company control. Despite corporate complexities, The Wheatbaker remains one of Lagos’s most iconic and culturally vibrant hospitality destinations.

4. Ikeja Hotel 

• Owners: Sheraton Ikeja  
• Cost per night: N365,436 – N993,571 

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.

A night’s stay at Sheraton Lagos Hotel ranges from N365,436 to N993,571, depending on room type and package, positioning it as one of Nigeria’s premium lodging options for business and leisure travelers.

At the helm of Ikeja Hotel Plc is Theophilus Eniola Netufo, FCA, the Group Managing Director/CEO. Netufo is a seasoned business administrator and finance expert with over 25 years of experience in professional practice, multinationals, and the hospitality sector.

3. Tony Elumelu: Founder, Chairman, Transnational Group 

• Hotel owned: Transcorp Hilton Abuja 
• Room cost per night: N350,000-N818,000

Transcorp Hotels Plc is the hospitality arm of Transnational Corporation Plc (Transcorp Group), one of Nigeria’s largest and most influential conglomerates.

At the heart of its portfolio is the iconic Transcorp Hilton Abuja, a landmark in Nigerian hospitality and the country’s only certified five-star hotel. Known for its world-class service, exquisite cuisine, and luxurious ambience, Transcorp Hilton Abuja offers 667 rooms, making it one of the largest hotels in Sub-Saharan Africa.

Whether for business or leisure, guests enjoy a seamless blend of comfort and sophistication across a wide range of facilities, including fine dining, conference halls, wellness centers, and entertainment lounges. It’s no wonder many guests say they could stay forever. Nightly rates range from N350,000 to N800,000, depending on room category—from deluxe rooms to executive suites.

Transcorp Hotels is led by Managing Director/CEO Uzo Oshogwe, under the broader strategic guidance of Transcorp Group Chairman Tony Elumelu. Through his investment vehicles, HH Capital, Heirs Holdings, and direct personal holdings, Elumelu controls a cumulative 35.93% stake in Transnational Corporation Plc.

2. Alhaji Tajudeen Owoyemi: Founder, Chairman, Avalon Intercontinental Nigeria Ltd 

• Owners of Radisson Blu Hotel Ikeja 
• Room cost per night: N355,034 – N897,842 

The Radisson Blu Hotel, Lagos Ikeja is a stylish, modern hotel owned by Avalon Intercontinental Nigeria Limited and managed by the Radisson Hotel Group. Conveniently located just 5km from Murtala Muhammed International Airport, the hotel features 155 contemporary guestrooms, including 17 loft-style suites, designed for both business and leisure travelers.

Alhaji Tajudeen Owoyemi is the founder and chairman of Avalon Intercontinental Nigeria Limited, a leading hospitality group in Nigeria. Under his leadership, the company has developed and managed prominent hotels.

It opened in October 2016, was rebranded to Radisson Blu as of January 1st, 2018.

Rates start from N355,034 per night for a standard room, up to N897,842 for a two-bedroom suite with lounge access. Guests can dine at the Cut Steakhouse or enjoy local and international cuisine at the Iyeru Okin all-day restaurant. Additional amenities include a rooftop pool with city views, a 24-hour fitness center, and eight meeting rooms equipped with the latest A/V technology and complimentary high-speed Wi-Fi.

1. Taiwo Afolabi: Founder, CEO SIFAX Group 

• Hotel Owned: Marriott Hotel Ikeja 
• Cost of room per night: N583,635- N3.9 million 

The Lagos Marriott Hotel Ikeja is owned by Mac-Folly Hospitality Limited, a subsidiary of Nigeria’s SIFAX Group, and is managed by Marriott International.

Dr. Taiwo Olayinka Afolabi is the founder and Chief Executive Officer of SIFAX Group, a Nigerian conglomerate with operations spanning maritime, aviation, logistics, oil and gas, and hospitality. He established the company in 1988, guiding its transformation from a modest freight business into one of West Africa’s most prominent integrated service providers.

Located in the heart of Ikeja GRA on a 7,000-square-meter site, the 251-room, seven-story hotel was completed in May 2021, following a groundbreaking ceremony in 2014. Designed by G1 Architecture and constructed by Dori Construction and Engineering, the hotel blends contemporary design with global luxury standards.

Room rates range from approximately N583,635 ($378) for standard rooms to N3.9 million ($2,539) for the Presidential Suite. The hotel offers a full suite of amenities, including a grand ballroom for up to 1,000 guests, executive lounges, and a business center with boardrooms and meeting spaces.

It features several dining options, including an all-day restaurant, specialty outlets, and a rooftop bar, alongside leisure facilities such as a spa, gym, and outdoor pool. Strategically located near Murtala Muhammed International Airport, the hotel serves both business and leisure travelers.