A subsidiary of NIPCO Plc, 22 Hospitality Ltd, has acquired a majority stake in Capital Hotels Limited, owners of the Abuja Sheraton Hotel. The acquisition is part of NIPCO's efforts to diversify into Nigeria's hospitality industry, according to the company's Group Executive Director Mr Aminu Abdulkadir.
The new investors intend to restore the hotel to its former glory and reposition it as the first-choice luxury hotel in Abuja. The hotel is currently managed by Marriott/Starwood under various system licence agreements, but has been described as being in a degraded state requiring substantial renovation to achieve brand compliance.
As part of their commitment to manpower development, the new investors intend to establish a 'Hospitality Academy' in Nigeria in collaboration with the Federal Government, to train Nigerian youths in hospitality skills including housekeeping, food and beverage service, culinary arts, security, IT, and maintenance. The Academy aims to equip graduates for local employment and overseas placements, addressing a global shortage of trained and experienced hospitality professionals.
