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Hotel is profitable but very capital intensive. A standard, tastefully built 3 star hotel costs anywhere between $70,000 and $90,000 PER ROOM to build and equip in the U.S., excluding land cost! One could obviously do it for less in Nigeria if it is unbranded, but your operating costs especially diesel and generator maintenance are no joke. Based on what I know of the hotel business (20+ years experience) and the studies I have done, it will take the 1st 4 years (3.8 years to be exact) at a minimum for you to break even on your initial investment; after that, you are on easy street, but a new competition may enter your market, then what? Personally, I would go for the school, much less headache. |
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