₦airaland Forum

Talk2Bella:
Hotel

u make gain before loss

how?

Keneking:
Hostel - ladies preferable

One room - self contain

Install genset that can power the facility.

Employ dedicated security guard.

Install functional borehole system

Leave the rest to Baba God

Leave the rest to University timetable

That's a good idea except for "ladies preferable". Why only them?

obyno1011:
When I visited Awka last, I learnt that unizik can enter lease agreement with you for hostel inside the school premises. You get some plots, build your hostel and manage for a period of years, after which it turns to school's property. Say about 20years.

To me, it's a good biz. Just make your enquiries.
Hotel will require more money, maintenance and close management, and there's competition, but it creates jobs for the unemployed.

You can build residential houses for your plots in Asaba and Enugu.

Thank you. As for leasing to unizik and forfeiting my investment after 20 years, I'm not in a haste for returns. I want something that will just be there. I'm shrewd somehow.

noble71:
OP I wish to give you details of what is happening in Awka as regards Hotels and Hostel.
Both are good investment in Awka with reasons,
If you must venture into Hotel business in Awka you must be ready for the following.

1. You have to build a hotel that will outshine the existing hotels like Western Melok, Trig point and others, for you to make profit from it, reasons being that new hotels come up in Awka almost every 3 months.
2. You must build a large swimming pool like that of Marble Arc or even bigger, students are the once that patronize hoteliers very well in Awka.
3. Good management.

But I will advice you to go for Student Hostel with reasons,
1. All you need to make it is good management, which a good care taker can do for you, Security and steady water, hostel generator.
2. Students hostel has less stress and complains to compaire with hotel business. Etc.

Welcome to Awka, I wish you the best.

Exactly my worry.

SirJeffry:
Please this is for serious minded people especially gentlemen and ladies of investment and business sections. A friend recently built a hotel in Awka, Anambra State and he's advising me to follow suit but I'm sceptical about hotel business so I'm considering two options.

One is to build some blocks of University hostel in a city with high concentration of undergraduates like Awka and Enugu since I already have acquired a reasonable number of lands in Awka, Asaba and recently Enugu.

The other option is since this is about having something at home, I can fix a reasonable deposit in a bank like first Bank or UBA which will be accruing interest every three months. I'm scared of going into business because of past experiences and besides that, I'm not good in business. All I have been doing is buying lands and keeping the rest of my money in bank, please I need some help.

Hotel is the best, but it all depends on the location, in hotel you see your money every day, then going for hostel, you have to consider the number of rooms, and rent always come once in a year!

SirJeffry:
Exactly my worry.

Go into hostel business, it pays more. I guess your land is located at Ifite.

Build Hostel blocks and you will be paying yourself life pension in peace and joy for the decision.

Open please what do you do for a living.. Please link me.. Thanks in advance

Hotel is not a wise decision, my reasons are :
- You have to to build it in a good Location, otherwise
no Profit.
- Criminal activities are carried out very easily, therefore difficult to maintained.
The interior and exterior decoration must be up to standard, hence it will be less patronized make it expensive.
School hostel is the best, my reasons are :
Even if it is not in a good Location, Students comes from different classes, you will still see student to rent it.
Not expensive.

SirJeffry:
Please this is for serious minded people especially gentlemen and ladies of investment and business sections. A friend recently built a hotel in Awka, Anambra State and he's advising me to follow suit but I'm sceptical about hotel business so I'm considering two options.

One is to build some blocks of University hostel in a city with high concentration of undergraduates like Awka and Enugu since I already have acquired a reasonable number of lands in Awka, Asaba and recently Enugu.

The other option is since this is about having something at home, I can fix a reasonable deposit in a bank like first Bank or UBA which will be accruing interest every three months. I'm scared of going into business because of past experiences and besides that, I'm not good in business. All I have been doing is buying lands and keeping the rest of my money in bank, please I need some help.

Don't do hotel...

I Think Ur Friend built a motel, if u are not a politician and have little or no ties to politicians, please dont build a hotel. i studied in abakaliki and the only thriving hotels were owned by politicians, every other establishment of the sort turned out to be glorified motels. Most were making just enough to keep themselves afloat while others just turned into restaurants with lodgings and pools, but ultimately you could tell that millions went into raising these establishments. Anyways, building Hostels for me is the better invesment, ur returns could be visualised and there is always demand for it except ur rent is too high. So u could try building different blocks, while differentiating them with price tags, while letting the grateful students do the advertising for you. And no matter how little honesty is left nowadays, i believe u can still find an honest caretaker in the vicinity, or u could contract the services of a law chamber, i believe they offer tenancy management services. Good Luck though.

SirJeffry:
Please this is for serious minded people especially gentlemen and ladies of investment and business sections. A friend recently built a hotel in Awka, Anambra State and he's advising me to follow suit but I'm sceptical about hotel business so I'm considering two options.

One is to build some blocks of University hostel in a city with high concentration of undergraduates like Awka and Enugu since I already have acquired a reasonable number of lands in Awka, Asaba and recently Enugu.

The other option is since this is about having something at home, I can fix a reasonable deposit in a bank like first Bank or UBA which will be accruing interest every three months. I'm scared of going into business because of past experiences and besides that, I'm not good in business. All I have been doing is buying lands and keeping the rest of my money in bank, please I need some help.

Thank God for his grace and mercy upon ur life. I hope as u are investing, u also have ur life covered ooo?
On the fixed deposit thing, my company can offer u more interest rate compared to any bank in Nigeria. If its for a year, we can give u 12% interest rate which u can collect instantly just like treasury bill. We also give rate on a monthly basis.
Reach me on 08126708295 for more info

laplace19:
I'll advise you build student's hostel. Hotel comes with a lot of troubles. However, I would've advised you to build a hotel if the location of your land is in Owerri....For the hostel, You can go for a two storey building with a total of 30 to 36 rooms.
The one we completed late last year at Umuchima in FUTO cost about 45-50mil (2-storey with 30 rooms).
You can contact me for some hostel architectural drawings, sir...
I'm a civil engineer
Check my signature.

30 rooms at 120 per room for a year is #3.6m

Say you bought the land for #5m and built with #40m total is #45m

Therefore it is going to take you about 12 year to get your money back.

But if you do Tbill and rollover the interest and capital at 18%, it will take you 4 years to recover your money

Note . House and land will appreciate in value. But it won't be anything compared to if you continue to roll over the Tbill for the same 12years

SirJeffry:
Please this is for serious minded people especially gentlemen and ladies of investment and business sections. A friend recently built a hotel in Awka, Anambra State and he's advising me to follow suit but I'm sceptical about hotel business so I'm considering two options.

One is to build some blocks of University hostel in a city with high concentration of undergraduates like Awka and Enugu since I already have acquired a reasonable number of lands in Awka, Asaba and recently Enugu.

The other option is since this is about having something at home, I can fix a reasonable deposit in a bank like first Bank or UBA which will be accruing interest every three months. I'm scared of going into business because of past experiences and besides that, I'm not good in business. All I have been doing is buying lands and keeping the rest of my money in bank, please I need some help.

Contact Privately let me give you free business modelling advice and financial plan.

SirJeffry:
Thank you. As for leasing to unizik and forfeiting my investment after 20 years, I'm not in a haste for returns. I want something that will just be there. I'm shrewd somehow.

@SirJeffry has a good point at a point its health to forfeit certain kind of investments as they might become a burden. The Unizik idea is prime if they give you 20 years lease you would have made your return and profit and you can still work round the agreement,such that your firm manages the hostel after the lease agreement ends. Here I mean after the 20 yrs your firm would manage the property collect revenue and remit a certain percentage to the University.

sonnie10:
30 rooms at 120 per room for a year is #3.6m

Say you bought the land for #5m and built with #40m total is #45m

Therefore it is going to take you about 12 year to get your money back.

But if you do Tbill and rollover the interest and capital at 18%, it will take you 4 years to recover your money

Note . House and land will appreciate in value. But it won't be anything compared to if you continue to roll over the Tbill for the same 12years

Why would he use 40 million to build 30 rooms?
At 10 rooms per floor that puts the value of each floor at about 10million......... thats really much.
Treasury bills is good though but OP can do both a little of each. The land in the long run would become more valuable than the bills! As the Government offering TBills and the interest rate are dependent on prevailing economic conditions.
Fixed deposit is another great one but it takes time and to make a reasonable sum you need to fix a reasonable sum, for example fixing 300 million for a year might give you about 30-40 million which you can take the interest and roll over the fix. But 300M is a substantial amount to tie down.
If you want to build a standard hotel and you are not well connected JUST FORGET IT! You would loss money
But you could build a motel though or a low-cost neat hotel (3k room-5k room) the Profit in hotel business is having your rooms FULLY booked.
Affordability and neatness would ensure that.

Nchabuomo:
Why would he use 40 million to build 30 rooms?
At 10 rooms per floor that puts the value of each floor at about 10million......... thats really much.
Treasury bills is good though but OP can do both a little of each. The land in the long run would become more valuable than the bills! As the Government offering TBills and the interest rate are dependent on prevailing economic conditions.
Fixed deposit is another great one but it takes time and to make a reasonable sum you need to fix a reasonable sum, for example fixing 300 million for a year might give you about 30-40 million which you can take the interest and roll over the fix. But 300M is a substantial amount to tie down.
If you want to build a standard hotel and you are not well connected JUST FORGET IT! You would loss money
But you could build a motel though or a low-cost neat hotel (3k room-5k room) the Profit in hotel business is having your rooms FULLY booked.
Affordability and neatness would ensure that.

#40m is barely enough for a 2 story 30 rooms (each ensuit with kitchen).

sonnie10:
#40m is barely enough for a 2 story 30 rooms (each ensuit with kitchen).

Excluding cost of Land, I think its enough. no be open floor inside toilet call am bath room ?kitchen is basically a room with a sink.
That's assuming you didn't have to sand fill the site and all.

SirJeffry:
Please this is for serious minded people especially gentlemen and ladies of investment and business sections. A friend recently built a hotel in Awka, Anambra State and he's advising me to follow suit but I'm sceptical about hotel business so I'm considering two options.

One is to build some blocks of University hostel in a city with high concentration of undergraduates like Awka and Enugu since I already have acquired a reasonable number of lands in Awka, Asaba and recently Enugu.

The other option is since this is about having something at home, I can fix a reasonable deposit in a bank like first Bank or UBA which will be accruing interest every three months. I'm scared of going into business because of past experiences and besides that, I'm not good in business. All I have been doing is buying lands and keeping the rest of my money in bank, please I need some help.

Hostels are better, comes with less troubles.... and less money spending for maintenance

SirJeffry:
Please this is for serious minded people especially gentlemen and ladies of investment and business sections. A friend recently built a hotel in Awka, Anambra State and he's advising me to follow suit but I'm sceptical about hotel business so I'm considering two options.

One is to build some blocks of University hostel in a city with high concentration of undergraduates like Awka and Enugu since I already have acquired a reasonable number of lands in Awka, Asaba and recently Enugu.

The other option is since this is about having something at home, I can fix a reasonable deposit in a bank like first Bank or UBA which will be accruing interest every three months. I'm scared of going into business because of past experiences and besides that, I'm not good in business. All I have been doing is buying lands and keeping the rest of my money in bank, please I need some help.

I swear to God, as soon as I saw the topic, I knew you must be talking from Awka. Meet me let me show you what you need to know, I'm in Awka myself...

hardwerk:
sirjeffry,use that money and come purchase a land at aladinma extension in owerri and build blocks of hostel all ensuit with ac space ....you will never regret it sir !!!!contact me to help you with the purchase of land in the aforementioned area ......students will pay as much as 170 in this area because of constant electricity and also build in a kitchen ....every year you will rank in real money from.your investment .....owerri is the place for hostel investment

Owerri hostel is good idea but any where that will fetch you good money will be in the heart of the town and not outskirts.I hope you know the price of land in aladimma estate

SirJeffry:
Please this is for serious minded people especially gentlemen and ladies of investment and business sections. A friend recently built a hotel in Awka, Anambra State and he's advising me to follow suit but I'm sceptical about hotel business so I'm considering two options.

One is to build some blocks of University hostel in a city with high concentration of undergraduates like Awka and Enugu since I already have acquired a reasonable number of lands in Awka, Asaba and recently Enugu.

The other option is since this is about having something at home, I can fix a reasonable deposit in a bank like first Bank or UBA which will be accruing interest every three months. I'm scared of going into business because of past experiences and besides that, I'm not good in business. All I have been doing is buying lands and keeping the rest of my money in bank, please I need some help.

I will advise you go for hostel, one with all the basic amenities, also... The location of the hostel matters a lot! Am in awka just graduated... I will be very much thankful if you can help. Me secure a job in your friends hotel or if their is anything I can help you do.
I don't wanna be doing nothing... Thanks sire
08063161566 mi number, sire

All these hotel is better and hostel is better can not give you the right answer. There are many things that are lacking in Awka one can invest in. The number of hostels in Ifite is very alarming,same goes to hotel.Unless you have only two options.

SirJeffry:
Thank you. As for leasing to unizik and forfeiting my investment after 20 years, I'm not in a haste for returns. I want something that will just be there. I'm shrewd somehow.

Awka is getting saturated with uncountable number of hostels sprouting up everywhere and many are uninhabited.lt took me almost 2 years to sold one for my client around that ifite side recently cos I am a lawyer.Some departments of federal poly oko are based in Atani,Ogbaru Anambra state.They are having accommodation shortages hence they pay good money and land is cheaper there compared to Awka.I hope you explore and research into that option

Very helpful and matured advice. I can see that you are deeply rooted and conversant in business. Ladies like u are very hard to find these days especially in Nigeria where all that our ladies care and think about is SLAYING. I am highly impressed, and I implore you to continue with the way you are going. I always like to encourage people who are sensible and visionary.

empressSkincare:
Go for Hostel blocks, It's easier to maintain and gives less headaches. Rent it out, collect your cash and your mind will be at peace. Hotels are more expensive to maintain though you'll get higher revenue but then your mind will always be there even if you put someone in charge they may end up shortchanging you. People are very wicked when handling businesses that's not theirs. Even if you're always available, they'll find all means of stealing from you not to talk of when you won't be available to monitor the hotel yourself, get ready for different stories.
Build hostel blocks or flats/self contain apartments depending on which is hot in the specified areas. Collect your money annually and sleep in peace. I wish you good luck, you'll need it.



GET RID OF STRETCH MARKS, CHECK MY SIGNATURE!

aariwa:
Owerri hostel is good idea but any where that will fetch you good money will be in the heart of the town and not outskirts.I hope you know the price of land in aladimma estate

Please how much is land there? Also how about fraudulent activities related to land selling and youths wahala? You talked about oko previously, do you think it's better since it's close by, I'm from Anambra.

empressSkincare:
Go for Hostel blocks, It's easier to maintain and gives less headaches. Rent it out, collect your cash and your mind will be at peace. Hotels are more expensive to maintain though you'll get higher revenue but then your mind will always be there even if you put someone in charge they may end up shortchanging you. People are very wicked when handling businesses that's not theirs. Even if you're always available, they'll find all means of stealing from you not to talk of when you won't be available to monitor the hotel yourself, get ready for different stories.
Build hostel blocks or flats/self contain apartments depending on which is hot in the specified areas. Collect your money annually and sleep in peace. I wish you good luck, you'll need it.



GET RID OF STRETCH MARKS, CHECK MY SIGNATURE!

Thank you.

Nchabuomo:
Why would he use 40 million to build 30 rooms?
At 10 rooms per floor that puts the value of each floor at about 10million......... thats really much.
Treasury bills is good though but OP can do both a little of each. The land in the long run would become more valuable than the bills! As the Government offering TBills and the interest rate are dependent on prevailing economic conditions.
Fixed deposit is another great one but it takes time and to make a reasonable sum you need to fix a reasonable sum, for example fixing 300 million for a year might give you about 30-40 million which you can take the interest and roll over the fix. But 300M is a substantial amount to tie down.
If you want to build a standard hotel and you are not well connected JUST FORGET IT! You would loss money
But you could build a motel though or a low-cost neat hotel (3k room-5k room) the Profit in hotel business is having your rooms FULLY booked.
Affordability and neatness would ensure that.

To be sincere with you, I came to see why I should consider the hotel option because I never liked it and all I've read have confirmed my fears. As for the fixed deposit, I don't mind tying the money down so far it's safe If hotel or hostel will give me unnecessary stress.

SirJeffry:
To be sincere with you, I came to see why I should consider the hotel option because I never liked it and all I've read have confirmed my fears. As for the fixed deposit, I don't mind tying the money down so far it's safe If hotel or hostel will give me unnecessary stress.

If you want your money to be 100% safe fix it. Approach banks and negotiate rates. I think anything above 10M you should be able to negotiate the interest rate. All the best man!

SirJeffry:
To be sincere with you, I came to see why I should consider the hotel option because I never liked it and all I've read have confirmed my fears. As for the fixed deposit, I don't mind tying the money down so far it's safe If hotel or hostel will give me unnecessary stress.

If you want your money to be 100% safe fix it. Approach banks and negotiate rates. I think anything above 10M you should be able to negotiate the interest rate. All the best man!.
Owning a business ( hostel or hotel) is a serious commitment and you must prepare yourself for eventualities in business

Nchabuomo:
If you want your money to be 100% safe fix it. Approach banks and negotiate rates. I think anything above 10M you should be able to negotiate the interest rate. All the best man!.
Owning a business ( hostel or hotel) is a serious commitment and you must prepare yourself for eventualities in business

Thank you. Time for the stress of business is one thing I don't have and I don't have help either. What Nigerians bank do you think is best for such though I know all of them are certified by CBN and insured by NDIC.

SirJeffry:
Thank you. Time for the stress of business is one thing I don't have and I don't have help either. What Nigerians bank do you think is best for such though I know all of them are certified by CBN and insured by NDIC.

Yea Nigerian banks are solid! So no fear. First Bank is good I know someone that runs a fixed D with them and the rates are great. They just drop his interest and roll the capital.