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.
- 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.
Now I know the owner of Bon Hotels and locations it extends. The price per night is actually for exquisite Business men. Wonderful piece very insightful