Mr. Vincent Miccolis, Managing Director for Middle East, Africa, and Turkey at The Ascott Limited, expressed great confidence in the market, noting that “Nigeria is one of Africa’s most dynamic hospitality markets, driven by a young population, strong private sector, and growing international connectivity.” He added that the signing “demonstrates our confidence in the country’s long-term fundamentals and marks another important step in our regional growth journey.”
The franchise model, in partnership with trusted entities like Admiralty Hotel Company Limited and Aleph Hospitality, is central to Ascott’s ambitious regional strategy, which aims for a 20% annual growth over the next five years across the Middle East, Africa, and Turkey (MEAT) region. By 2030, Ascott plans to double its regional portfolio to reach 15,000 units in operation or under development.
Lagos, serving as Nigeria’s bustling commercial capital, continues to attract over 1.3 million international visitors annually, solidifying its reputation as a crucial base for multinational corporations. The property’s prime location along Admiralty Way in Lekki offers convenient access to the thriving business hubs of Victoria Island and the future-focused Lekki Free Trade Zone.
