SarkinYarki:
That hotel is not worth up to 15 million dollars at present and it's running at a mega loss ...Tinubu is just looking for a mags to offload that liability on

How do you know that it is running at a loss?

dannybrasky:
Mr don't say what u don't know! Renaissance IKEJA was never Tinubu's! It belongs to a quiet billionaire who owns many hotels in Nigeria. I know cos I once worked for the owner.

You worked with the GM not the owner.

SarkinYarki:


even intercontinental hotel in VI never mad one Naira profit before the banks they were owing took it over ...See Air B N B don spoil hotel business for Lagos

All these hotels are just ego trip, vanity projects. The luxury segment of hospitality/real estate in Nigeria is already in a state of glut. Go to some 'local' areas and see how stupendously profitable some 1 - 2 star hotels are.

How many '3-4 star' hotels does Lagos really need? How many can the economy sustain profitably?

StupidInyamiri:
I laugh when people are saying a male child is better than a female child.
I'd rather have a Kemi Adeosun than a Dino Melaye.

I'd rather be a honest loud mouth than a pretentious thief and certificate forger. How about that

BlacSmit:
Only a fool would buy any property not related to the oil and gas industry in Nigeria for above $10million at the moment.

I would rather your rephrase your statement to mean, only a fool would buy a facility not related to food processing. It's the bomb now in Nigeria. Even oil and gas is on its knees as major players in the industry are leaving the country.

handsomeyinka:
Eko hotel is worth -$250million

Eko Hotel should be worth far more than Oriental.

Hedonini:

All these hotels are just ego trip, vanity projects. The luxury segment of hospitality/real estate in Nigeria is already in a state of glut. Go to some 'local' areas and see how stupendously profitable some 1 - 2 star hotels are.

How many '3-4 star' hotels does Lagos really need? How many can the economy sustain profitably?

Bro you have said it all even in abj do you know that Sheraton Hotel is struggling to stay afloat?so part of the building is already closed down due to lack of patronage and lack of money to upgrade

Hedonini:

All these hotels are just ego trip, vanity projects. The luxury segment of hospitality/real estate in Nigeria is already in a state of glut. Go to some 'local' areas and see how stupendously profitable some 1 - 2 star hotels are.

How many '3-4 star' hotels does Lagos really need? How many can the economy sustain profitably?

exactly

Amuocha:
Amazing...

Sold Radio Continental
Sold Ikeja Mall
Sold renaissance Alausa
Now selling Oriental Hotel

Your head is very correct!!!
I can now relate.
If you know you know

StupidInyamiri:
I laugh when people are saying a male child is better than a female child.
I'd rather have a Kemi Adeosun than a Dino Melaye.

It's all in your name.

Amuocha:


You worked with the GM not the owner.

Don't mind these funny, low level salary earners. Most of them would never know the real owners of the company they claim to be working for.

BlacSmit:
Only a fool would buy any property not related to the oil and gas industry in Nigeria for above $10million at the moment.

Location is a very important factor apart from the quality and popularity of the property.

Oriental Hotel is not located in Abule Egba.

Skoopy:


I would rather your rephrase your statement to mean, only a fool would buy a facility not related to food processing. It's the bomb now in Nigeria. Even oil and gas is on its knees as major players in the industry are leaving the country.

Please give us example of food processing biz daz hot right now

idepep:


Bro you have said it all even in abj do you know that Sheraton Hotel is struggling to stay afloat?so part of the building is already closed down due to lack of patronage and lack of money to upgrade

Abuja Sheraton is a dead zone. Not that it was ever really alive in the first place. It has always been a poor substitute for the Hilton.

But it's even worse now. Nobody reckons with it anymore. This so-called luxury business takes no prisoners.

BuhariAdvocate:
When your pastor tell you God bless you tell him you reject the prayer. In the case of Tinubu wealth God have always be with him. Bola is a taxi driver on the street of Chicago and his adopted mother iyaloja of Lagos called him home to established his own business with little he make in usa. Do you know what it mean to be Iya loja of Lagos the position his daughter occupied now. The woman took bola round the Lagos exposed many business strategies to him, that is where bola start making his money .
Bola helped many people he humble himself and mingle with common people.No wonder some people can die for him.bola not hold any federal appointment or elected as a
president or vice president. Bola make his money legally way no wonder efcc couldn't convicted him despite the humiliation from former president olusegun Obasanjo. Tinubu is a good example that youth should emulate.

Na wa oooo.
Your case has no remedy.

idepep:


Bro you have said it all even in abj do you know that Sheraton Hotel is struggling to stay afloat?so part of the building is already closed down due to lack of patronage and lack of money to upgrade

yes it true that part of the hotel is closed down but when I asked they said they were upgrading the suite but deep down in me I know that Sheraton hotels is screaming help help .........even the garage empty fa I was asking myself if I was in Sheraton

Eyah so just two bullion van and tinubu is now poor
Afonjas don finish this man

Tinubu.. a wise man , he has foreseen an atiku/obi victory . now covertly buying back his key properties through proxies. wise man

Hedonini:


Abuja Sheraton is a dead zone. Not that it was ever really alive in the first place. It has always been a poor substitute for the Hilton.

But it's even worse now. Nobody reckons with it anymore. This so-called luxury business takes no prisoners.

Hilton is actually helped by federal government patronage. Many rooms are permanently booked by government whether occupied or not.

Occupancy rate of “4/5” star hotels in Abuja is not high to make them profitable. That is why they shine only in the first year of opening and after that, they begin to look like brothels.

The writer mentioned that bible are placed in all the rooms.
If Tinubu who is a Moslem owns the hotel as the say.
Then why are bible instead of Koran in all the rooms ?

oh

StupidInyamiri:
I laugh when people are saying a male child is better than a female child.
I'd rather have a Kemi Adeosun than a Dino Melaye.

what about a kemi oluloyo?

it is easier to steal money than to manage a business. This is why many of our politicians end their lives in penury...their wealth is not based on having any business acumen but on access to the state purse.

I don't understand why people think selling a property means someone is broke.

klas:


Hilton is actually helped by federal government patronage. Many rooms are permanently booked by government whether occupied or not.

Occupancy rate of “4/5” star hotels in Abuja is not high to make them profitable. That is why they shine only in the first year of opening and after that, they begin to look like brothels.

Hilton's reputation as the centre of power, influence and connections has always been its main selling point. The fact that you're guaranteed to meet movers and shakers there means that everyone (including poseurs and pretenders) wants to be there. I don't see Transcorp Hilton running a loss anytime soon, in spite of the glut of new 3/4 star hotels in Abuja.

Was just thinking the same thing too while doing some mental calculations. When will the buyer make the money back? How much do they make per year? Lol

BlacSmit:
Only a fool would buy any property not related to the oil and gas industry in Nigeria for above $10million at the moment.

HigherEd:
Over 75 billion naira. Most likely foreigners would buy.
Lalasticlala

Are you kidding me? $250million is over 8trillion naira

fayruka:
Are you kidding me? $250million is over 8trillion naira

You surely missed all your maths classes.

comshots:
Tinubu can never be poor.
Check it.
He is a pensioner receiving millions of naira every month after looting Lagos state as governor for 8 years.
He and his family are entitle to free medical at Lagos state expenses.
He has companies who get contract running into billions of naira from Lagos state government.e.g,alpha beta,hitec,lcc,etc.
He has radio and TV stations.
He has hotels at high brow areas of Lagos.Apart from oriental hotel,he has other hotels at gra,ikeja.
He has godchildren in lagos, southwest and federal politics who are senators,reps,commissioners, and ,ministers who give returns.
His wife and children are senators.
His eldest daughter is Omo nile,chairlady,in the entire market of Lagos.
This is a man who fought military dictatorship who now turns out to be a civilian dictator by using thugs to snatch ballot boxes and intimidate voters during elections so that his continue milking of the wealth of the people will sustain.

Do you know all those things you mentioned are tied to the health of the economy?

In other words, the liquidity of his hotels means people within the country have money to patronise the services.

The measure of the economy is a meaure of Tinubus wealth since they are both so intricately entangled. If Tinubu is not careful, his empire will implode under the weight of deficit spending and inflation.

Business success is not measured by assortment of different products youre offering, but by the speed youre able to turn over liquid cash. This is why new companies are able to penetrate markets faster than older ones, because they focus only on turning over, while older legacy ones focus on maintaining bureacracy and staff retention.

The mind of a greesy kleptocrat is focused on how to spread his companys portfolio to include everything under the sun, overlooking costs and maintenance.

TheFacelessMan:


IF it is true that Tinubu owns it, some jobless chest-beaters would still keep ranting about "his wings being clipped"

Instead of doing what he was doing at your age so that you would be as relevant as he is at his age....

Keep being obsessed about his downfall. It will serve you well

But why do we really love these men who have loot this country dry and made it underdeveloped.? Almost all Nigerians are guilty of this act.

As u see me so, I have no respect for all our politicians, especially class of 1970s

fayruka:

Are you kidding me? $250million is over 8trillion naira

Go back to Primary 1.

StupidInyamiri:
I laugh when people are saying a male child is better than a female child.
I'd rather have a Kemi Adeosun than a Dino Melaye.

Sameway I will prefer Cameron Okoye to Regina Daniels