Not enough for that

Ezemarcel:
Can you pay me for services if I do estimate for you

See this one. You wan still take inside the 60m. When you know quite alright say the moni nor go any where.

@op. Things to put in consideration.
1. Location
2. Cost of materials.
3. Cost of labour.
4. You will a very solid foundation with lots of beams and pillars else you dey plan for collapse of building.
With the present hike in prices. It honestly can't. Try start wetin you finish.. Building nor be for poor masses oh.

ASAPFERG:
60m will build you 25 room motel(not hotel)
where you will be receiving minimum 3m monthly

Motel? As in brothel?

FromZeroToHero:
For the carcass only. Yes.

Budget another N60m for finishing.

Between N100m to N120m will do it.

Is there lot of money in hotel business for someone to invest that much money? Just curious.

Ezemarcel:
then why asking us....go ahead now..

Lol

MzErica:


Is there lot of money in hotel business for someone to invest that much money? Just curious.

It all depends on the location. Money comes in daily... Short let apartment is equally not bad.

Yes
It will be more than enough

MzErica:


Is there lot of money in hotel business for someone to invest that much money? Just curious.

Hospitality business Is good business. So long as you have good management and publicist

pimplucious:

hotel will be on the ground floor while the top floor will hold the event hall.

Don’t put the rooms and hall in same structure.
The hotel guests will suffer from sound and noise from events.
This is a big issue. You can’t sound proof to block the noise.
Build 2 separate structures.

pimplucious:
I am looking at investing in hospitality business but I’m not sure if 60Million naira will be adequate to erect a 20 room hotel and event hall with a capacity of about 500 people max.

Cause of the paucity of funds, I’m looking to make it a single story building such that hotel will be on the ground floor while the top floor will hold the event hall.

Engineers in the house do you think this amount will be enough to achieve this? Pls let’s have your expert opinion on this. Thanks in advance.

I'm thinking of serviced apartments instead.
Thank me later.

FromZeroToHero:
For the carcass only. Yes.

Budget another N60m for finishing.

Between N100m to N120m will do it.

After finishing, what of furnishing? Furnishing to include electronics, security and equipments (eg. generator). Furnishing alone will gulp the 60 million.

Get a quantity surveyor to give you an estimate

MzErica:


Is there lot of money in hotel business for someone to invest that much money? Just curious.

Yes o. There's money in hotel business compare to residential apartment.

The cheapest room in an average hotel is between 7k to 10k.

Lets assume the room was rented for only 18days out of 30days it will give you 7k x 18= 126,000 monthly.

Dnt let any one deceived you op, 60m can only erect the said structure with the room and conference hall. the finishing(tiles, furniture,air conditioning,etc) and interior finishing(beautification and Attraction point e.g swimming pool, fountain etc) is what can cost you more.
Check my status and dm for more details..

If you can only build a decent 2 bedroom flat with 10million without the cost of furniture and the likes, It’s obvious that the 60 million cannot do what you want. Maybe you should consider building a 10 room hotel first and build the others latter.

Ofemmanu1:
60m can do it, even if it's 10m sef.

It all depends on quality, aesthetics, taste, facilities and ratings.


Hotels are rated by Stars I e One star, Two stars and the latest one being Seven Star hotels so it depends on you.


Meanwhile, there are thousands of hotels with no stars in Nigeria and are still in business.

Starless hotels

pimplucious:


Thanks unfortunately I am not with an internet enabled phone at the moment. I lost my phone. If you can pls reach me on my email addy: emini_akin@yahoo.com we can start from there.

omo ogbon! Ur IQ dey intact, hmm email are not traceable, u fear fear.

I com dey reason if I first jam the said amount, hmm I will enjoy myself like no tomorow .hmmm life sha but unfortunately when?

pimplucious:
I am looking at investing in hospitality business but I’m not sure if 60Million naira will be adequate to erect a 20 room hotel and event hall with a capacity of about 500 people max.

Cause of the paucity of funds, I’m looking to make it a single story building such that hotel will be on the ground floor while the top floor will hold the event hall.

Engineers in the house do you think this amount will be enough to achieve this? Pls let’s have your expert opinion on this. Thanks in advance.

It all depends on the location and size.... plus the structural design

U will need about 250 million

FromZeroToHero:


Yes o. There's money in hotel business compare to residential apartment.

The cheapest room in an average hotel is between 7k to 10k.

Lets assume the room was rented for only 18days out of 30days it will give you 7k x 18= 126,000 monthly.

on point

[code][/code]

MzErica:


Is there lot of money in hotel business for someone to invest that much money? Just curious.

more than enough

From a business perspective
Event centre and hotel
Are different businesses
Though they can be under the same establishment just like a restaurant and bar can be under a hotel.
Event centre may be more lucrative depending on the location
It is possible for event centre side to clash with hotel side
E.g. I have seen hotels with event rooms that get a lot of patronage from churches with a lot of oloshos in the lobby
So it is important to consider who your target customer will be and whether to focus on bar,restaurant,room hire side.
Management of rooms is different from management of a bar of restaurant

FromZeroToHero:


Yes o. There's money in hotel business compare to residential apartment.

The cheapest room in an average hotel is between 7k to 10k.

Lets assume the room was rented for only 18days out of 30days it will give you 7k x 18= 126,000 monthly.

It is not as easy as that
Hotels need management. To keep the customers happy and to ensure the property is looked after and your money is not stolen
Hotels carry a lot of risk from customers which also requires management
E.g. Customers may be criminals,they can die while screwing,,try to escape without paying ,your staff can steal from you or your customers etc. All of that requires expertise to manage
A person with genuine expertise is unlikely to be jobless
I have seen a lot of hotel manages employed in the basis of he is my brother with touching stories at the end

pimplucious:
I am looking at investing in hospitality business but I’m not sure if 60Million naira will be adequate to erect a 20 room hotel and event hall with a capacity of about 500 people max.

Cause of the paucity of funds, I’m looking to make it a single story building such that hotel will be on the ground floor while the top floor will hold the event hall.

Engineers in the house do you think this amount will be enough to achieve this? Pls let’s have your expert opinion on this. Thanks in advance.

bros rest just buid 4 flat u will learn from there....kpele...joker

omonnakoda:

It is not as easy as that
Hotels need management. To keep the customers happy and to ensure the property is looked after and your money is not stolen
Hotels carry a lot of risk from customers which also requires management
E.g. Customers may be criminals,they can die while screwing,,try to escape without paying ,your staff can steal from you or your customers etc. All of that requires expertise to manage
A person with genuine expertise is unlikely to be jobless
I have seen a lot of hotel manages employed in the basis of he is my brother with touching stories at the end

There's no business without risk and disadvantages.

But when the advantage over weighs the disadvantage with lesser risk, then it's worth venturing in.

FromZeroToHero:


There's no business without risk and disadvantages.

But when the advantage over weighs the disadvantage with lesser risk, then it's worth venturing in.

You are absolutely right my point is one cannot just wake up and go into any business without knowledge. Expertise is what is needed to manage risk
It is not just erecting a building
Knowledge and expertise is not cheap.
I cannot just wake-up because I have cash and open a record label,secondary school or a TV station

Even a restaurant/buka is not beans(pun intended)
Dangote once said he does not enter any business he does not understand
If you have 100 million and have no experience in hotel business it is a big undertaking
Before buying a bag of cement you should have your team core in place
Summary it is a knowledge intensive businesses compared to a petrol station e.g.

pimplucious:


I see people saying 60m isn’t enough. I am pretty sure 50m or a little less will adequately stand the building to roofing level according to my findings.

so 10m will now do the finishing?

Ofemmanu1:
60m can do it, even if it's 10m sef.

It all depends on quality, aesthetics, taste, facilities and ratings.


Hotels are rated by Stars I e One star, Two stars and the latest one being Seven Star hotels so it depends on you.


Meanwhile, there are thousands of hotels with no stars in Nigeria and are still in business.

Following

pimplucious:
I am looking at investing in hospitality business but I’m not sure if 60Million naira will be adequate to erect a 20 room hotel and event hall with a capacity of about 500 people max.

Cause of the paucity of funds, I’m looking to make it a single story building such that hotel will be on the ground floor while the top floor will hold the event hall.

Engineers in the house do you think this amount will be enough to achieve this? Pls let’s have your expert opinion on this. Thanks in advance.

Might do the hall, but certainly not a hotel.

pimplucious:
I am looking at investing in hospitality business but I’m not sure if 60Million naira will be adequate to erect a 20 room hotel and event hall with a capacity of about 500 people max.

Cause of the paucity of funds, I’m looking to make it a single story building such that hotel will be on the ground floor while the top floor will hold the event hall.

Engineers in the house do you think this amount will be enough to achieve this? Pls let’s have your expert opinion on this. Thanks in advance.

Dy play
Whatever you decide just try and choose quality of quantity or you will wake up every money, look at the mess you made with 60mill and weep.
If you haven't bought land, make sure you spend more and buy in a good location

You need to understand that when you want to undertake a life-changing project like this, there will be people who will try to slap you down. My advice is this: Go offline, be willing to get your hands dirty, go and meet and architect to give you a good design that you are comfortable with, then move on from there. Like any building project, blocks, cement, rods, sand and clippings take the chunk of the money. Get a good estimate from a professional. Don't skimp on standard. Above all, start with what you have, you'll be surprised what you can achieve with a determined heart.
Good luck and Godspeed.