How do I start a hotel business in Nigeria?

How do I start a hotel business in Nigeria?

How to Start a Hotel Business in Nigeria

1. Have a Business Plan. Now that you’ve done your research efficiently, coming up with a business plan will flow easily.
2. Register the Business.
3. Source for Capital.
4. Build Your Hotel.
5. Hire Competent Staffs.
6. Market Your Business.

How do I register my hotel in Nigeria?

Get Registered For your hotel business, you will need to register with the Corporate Affairs Commission (CAC) and the Nigerian Tourism Development Commission (NTDC). Registering with the NTDC gives the advantage of having your hotel listed in their official tourism guide.

What is the most important thing for a hotel business?

Service is the key in the Hospitality Industry Good service is the key to success in any hospitality business. Many customers rely on internet reviews to decide whether to visit a business – and just a couple of dissatisfied customers sharing their experiences online can quickly put you out of business.

What is needed to start a hotel business?

How to start a hotel business:

• Step 1: Make a plan.
• Step 2: Create your Unique Value Proposition (UVP)
• Step 3: Develop your marketing plan.
• Step 4: Enquire about permits and zoning.
• Step 5: Raise startup capital.
• Step 6: Find hotel premises, build and furnish.
• Step 7: Recruit staff.
• Step 8: Put systems in place.

How much do hotel owners make in Nigeria?

Profitability of hotel business in Nigeria If you charge a minimum of N3000 per night, this means that if you can engage all your rooms daily, you will be making at least N3000×10= N30,000 every day, excluding revenue you make from drinks and food. And so every month you can pull up to N900,000 minimum in revenue.

How can I make my hotel successful?

Success in the Hotel Industry: 8 Things That Keep You on Top

1. The hotel industry thrives on location.
2. Keep an eye on those reviews.
3. Generate great leads.
4. Give customers an innovative experience.
5. Keep your guests safe.
6. Communicate, communicate, communicate.
7. Give managers flexibility.
8. Be observant.

What sort of hotels are the most popular for business?

According to a new study by Certify, which tracks expense reports, Hampton Inn, part of the Hilton family, is the most expensed hotel chain among business travelers….The other most popular hotel chains are as follows:

• Hilton Garden Inn.
• Hilton.
• Holiday Inn.
• Doubletree.
• Hyatt.
• Fairfield Inn.
• Comfort Inn.
• Embassy Suites.

Is buying a hotel a good investment?

Hotels can be an excellent way to generate income and build long-term wealth, especially when the economy is strong. Unlike most types of commercial real estate, hotels can adjust their room rates on a daily basis. This gives them a unique ability to raise prices to match demand.

Is hotel a good investment in Nigeria?

Investing in hotel business in Nigeria is a wise investment. It is a business venture which has been found to be lucrative. It is a money spinner as more and more people are desiring leisure and comfort.