15 Big Names Behind Nigeria’s Top Expensive Hotels

Nigeria’s high-end hospitality industry is expanding fast and powerfully. The increase in business travel, global tourism interest, and the rising demand for premium experiences across Africa has created fertile ground for investing in luxury hotels

With Lagos leading the charge and Abuja not far behind, the country is now a hotbed for global brands like Marriott, Radisson, Hilton, and Leva Hotels.

However, behind the glittering buildings and five-star service are powerful individuals and corporations, local moguls, seasoned conglomerates, and ambitious foreign investors pushing Nigeria’s hotel scene to new heights.

Here are the influential names powering some of the country’s most expensive and prestigious hotels.

Taiwo Afolabi – The Man Behind Marriott Ikeja

At the heart of Ikeja’s luxury district stands the Lagos Marriott Hotel Ikeja, a world-class hotel offering top-tier comfort and service. But behind this impressive property is Dr. Taiwo Afolabi, founder and CEO of SIFAX Group, one of Nigeria’s most diversified business empires.

Through Mac-Folly Hospitality Ltd, a SIFAX subsidiary, Afolabi brought the Marriott brand into Ikeja, turning a 7,000-square-meter plot into a seven-story hotel boasting 251 rooms. Room prices range from over ₦580,000 to ₦3.9 million per night, depending on how presidential your preferences are.

Opened in 2021, the hotel caters to business and leisure travelers alike, offering everything from executive lounges and rooftop bars to a grand ballroom that seats 1,000. Its proximity to the Murtala Muhammed International Airport makes it one of the most strategically placed hotels in Lagos.

Alhaji Tajudeen Owoyemi – The Force Behind Radisson Blu Ikeja

If you’ve stayed at the Radisson Blu Hotel, Lagos Ikeja, you’ve experienced the hospitality vision of Alhaji Tajudeen Owoyemi, chairman of Avalon Intercontinental Nigeria Ltd. His company owns the hotel, while operations are handled by the global Radisson Hotel Group.

Owoyemi transformed what was once a luxury hotel into a global hospitality experience when Radisson Blu rebranded the property in 2018. It offers 155 modern rooms, including stylish loft suites, and room rates range between ₦355,000 and ₦897,000 per night.

From rooftop city views to a world-class steakhouse, the hotel blends comfort, convenience, and class. And with just a 5-minute drive to the international airport, it’s a go-to spot for high-level travelers and executives.

Tony Elumelu – The Visionary Behind Transcorp Hilton Abuja

No list of Nigeria’s hotel heavyweights is complete without Tony Elumelu, the banking and investment powerhouse behind Transcorp Hilton Abuja, through his stake in Transnational Corporation Plc (Transcorp Group).

The hotel is a symbol of luxury in Nigeria’s political capital, offering 667 rooms, one of the largest hotel capacities in Sub-Saharan Africa. Rates start at around ₦350,000 and can climb to over ₦800,000 per night.

While daily operations are led by Transcorp Hotels Plc under Managing Director Uzo Oshogwe, Elumelu through firms like Heirs Holdings and HH Capital holds over 35% ownership of the parent group. 

The hotel continues to serve heads of state, diplomats, and global executives, thanks to its blend of premium service, high security, and unmatched prestige.

Ikeja Hotel Plc – Owners of Sheraton Lagos

Behind the globally recognized Sheraton Lagos Hotel is Ikeja Hotel Plc, a major Nigerian hospitality company listed on the Nigerian Exchange. With other properties like Sheraton Abuja and stakes in the Federal Palace Hotel, the company is shaping Nigeria’s luxury accommodation space.

The Sheraton Lagos charges between ₦365,000 and ₦993,000 per night, depending on the room class. Though managed by Marriott International, ownership and control remain local, with leadership from Chairman Chief Anthony Idigbe (SAN) and a board that includes several members of the Ibru family and other notable Nigerians.

Group CEO Theophilus Eniola Netufo, a veteran in finance and hospitality, oversees daily business, ensuring the hotel remains a key destination for business travelers and tourists.

Andy Townsend & Jim Gordon – Legacy Minds Behind The Wheatbaker

Situated in Ikoyi, The Wheatbaker is one of Lagos’s most refined boutique hotels. With only 65 rooms but an unmatched blend of art, elegance, and exclusivity, it attracts a cultured clientele willing to spend between ₦231,000 and ₦618,000 a night.

The hotel is the brainchild of Andy Townsend and Jim Gordon, co-founders of Legacy Hotels & Resorts, who hold an 80% stake in the property. 

Despite some corporate disputes and legal drama involving fellow investor Haider Jaffer, the hotel remains a favorite among international guests and Nigerian elites.

Anthony Leeming – Steering Federal Palace Back to Prestige

Hotel: Federal Palace Hotel, Victoria Island
Room Rate: From ₦440,000 per night

Once built to host world dignitaries during Nigeria’s independence era, the Federal Palace Hotel has undergone decades of transformation. The man who has helped steer its modern chapter is Anthony Leeming, CEO of Sun International, a South African hospitality and entertainment giant.

Leeming, with deep roots in finance and hotel management, took the helm in 2017, bringing financial discipline and a touch of global elegance to Sun International’s operations, including its stake in the Federal Palace.

Although the hotel has returned partially to Nigerian hands, Sun International’s presence was pivotal in revitalizing the once-struggling property. Under Leeming’s leadership, Federal Palace operated with world-class gaming and hospitality standards, keeping its reputation intact in the heart of Victoria Island.

Ramesh Kansagra – The Billionaire Behind Abuja Continental Hotel

Hotel: Abuja Continental Hotel (formerly Sheraton Abuja)
Room Rate: ₦403,000 – ₦1.03 million per night

Formerly the Sheraton Abuja Hotel, the Abuja Continental Hotel represents the capital’s enduring thirst for five-star luxury. Owned by Capital Hotels Plc, the hotel stands as a legacy property and at the top sits Ramesh Kansagra, a London-trained microbiologist turned billionaire businessman.

Kansagra, through Solai Holdings Ltd, has infused new life into the hotel, positioning it as a luxury brand in Nigeria’s hospitality scene. 

Beyond hospitality, Kansagra’s business interests span ceramics, oil, and agriculture, with a net portfolio exceeding $600 million.

Under his chairmanship, Abuja Continental has repositioned itself not just as a place to sleep, but a full-service urban resort with fine dining, entertainment, and executive-level meeting spaces.

Jonas Schwarz Lausten – Redefining African Hospitality the Nordic Way

Hotel: Nordic Hotel, Abuja
Room Rate: ₦215,000 – ₦1.08 million per night

If you thought Nigerian luxury was all about opulence, Jonas Schwarz Lausten would like to introduce you to something different. As the co-owner and CEO of Nordic Hotels Nigeria, he’s leading a quiet revolution in minimalist luxury, inspired by Scandinavian design and values.

Lausten and his partners including Nigerian investor Nwaya Chukwuemeka Collins and Danish co-founders launched the first Nordic Hotel in Abuja in 2011. Today, the brand is synonymous with calm, clean design and exceptional service.

Jonas isn’t just a hotelier. He’s a creative mind who also founded Studio Visits Nigeria, a podcast-turned-book that highlights the stories of Nigerian artists. His love for simplicity, culture, and detail flows seamlessly into every room of the Nordic Hotel.

Stanley Uzochukwu – The Rising Star Behind The Delborough

Hotel: The Delborough, Victoria Island
Room Rate: ₦467,925 – ₦2.81 million per night

Among the-established hotel names, The Delborough is the bold new kid on the block and at the center of it all is Dr. Stanley Uzochukwu, the energetic founder of Stanel Group.

Known for his rapid rise in business, Uzochukwu has turned Stanel Group into a multi-sector powerhouse, covering fuel, food services, and now high-end hospitality. Opened in 2023, The Delborough is already being hailed as one of Nigeria’s most luxurious hotels, featuring sleek designs, high-security detail, and premium experiences tailored for elite guests.

From presidential suites with panoramic views to private event lounges, The Delborough doesn’t just aim to compete—it aims to redefine what “premium” means in Lagos.

Gilbert & Ronald Chagoury – The Brothers Behind Eko Hotel & Suites

Hotel: Eko Hotels & Suites, Victoria Island
Room Rate: ₦240,000 – ₦1.1 million per night

No conversation about Nigeria’s most prestigious hotels is complete without Eko Hotel & Suites and behind this sprawling hospitality icon are brothers Gilbert and Ronald Chagoury, founders of the Chagoury Group.

Built in 1977 and designed by Nigerian architect Oluwole Olumuyiwa, Eko Hotel has become a symbol of Nigerian hospitality. With over 800 rooms spread across multiple towers, it caters to a broad range of guests, from high-profile politicians to international artists and business executives.

The Chagoury brothers have diversified interests, real estate, construction, healthcare but Eko Hotel remains one of their flagship assets. Despite its decades in operation, it has kept up with modern standards, regularly upgrading rooms, adding new restaurants, and hosting some of Nigeria’s biggest corporate and entertainment events.

Black Diamond Group – Quiet Luxury in the Heart of Victoria Island

Hotel: Black Diamond Hotel, Lagos
Room Rate: ₦180,000 – ₦600,000 per night

Sleek, discreet, and quietly elegant, Black Diamond Hotel is carving out its own niche in Victoria Island’s hospitality landscape. While not tied to any global franchise, this premium hotel is developed and owned by the Black Diamond Group, a Lagos-based company with a strong local footprint.

With 245 rooms and over 300 staff members, this hotel doesn’t just cater to comfort, it prioritizes customized experiences. From its plush executive rooms to top-end suites that offer serene views of Lagos’s bustling commercial axis, Black Diamond positions itself as a hub for premium leisure and high-level business stays.

Strategically surrounded by the city’s financial hotspots and landmark buildings, it’s quickly becoming the go-to option for both locals and international guests who want understated sophistication without sacrificing luxury.

Attia Nasreddin – Industrialist Turned Hotel Investor

Hotel: Fraser Suites, Abuja
Room Rate: ₦583,000 – ₦4 million per night

Best known as the CEO of Nasco Group, one of Nigeria’s most enduring industrial brands, Attia Nasreddin has extended his reach from fast-moving consumer goods to five-star hospitality. Under his leadership, Nasco co-developed Fraser Suites Abuja, a towering blend of serviced apartment living and seven-star luxury.

Located in the Central Business District of Abuja, the hotel sets itself apart with ten floors of elegance, combining global hospitality expertise with top-tier local investment. 

Nasreddin’s decision to enter hospitality aligns with his broader push for sector diversification, tapping into Nigeria’s growing demand for luxury business stays and long-term accommodation.

Fraser Suites, commissioned by former President Buhari—has become a preferred spot for diplomats, CEOs, and jet-setters who demand privacy, style, and round-the-clock service.

Milan Group & AMCON – The Highs and Lows of Lagos Continental Hotel

Hotel: Lagos Continental Hotel
Room Rate: ₦639,000 – ₦1.3 million per night

The towering Lagos Continental Hotel, once introduced as Nigeria’s first Intercontinental Hotel, is a monument to both ambition and controversy. Built by the Milan Group at a staggering cost of over $150 million, it stood tall as West Africa’s highest hotel with 358 rooms and 37 suites.

However, financial turbulence and mounting debts led to the exit of Intercontinental Hotels Group and a subsequent takeover by AMCON (Asset Management Corporation of Nigeria). Though now rebranded and operating under new management, the Milan Group is still tied to its ownership legacy.

Today, the hotel is reclaiming its status with upgraded offerings, modern suites, and luxury touches, still commanding some of the highest room rates in Nigeria. 

Kasada Albatross Holdings – Global Investors Backing Movenpick Ikoyi

Hotel: Movenpick Hotel Ikoyi, Lagos
Room Rate: ₦285,000 – ₦594,000 per night

The rebirth of the former Southern Sun Ikoyi into the elegant Mövenpick Hotel Ikoyi signals a changing of the guard in Nigeria’s hotel ownership landscape. 

The property was acquired by Kasada Albatross Holdings, a Mauritius-based investment firm tied to Kasada Hospitality Fund LP, in a deal worth over $30 million.

What makes Kasada’s entry unique is its sharp focus on transforming African hospitality by backing premium assets in high-growth cities. Co-founded by Olivier Granet and David Damiba, the group brings deep financial and operational expertise to the table. 

Granet, an ex-AccorHotels executive, knows luxury inside and out. Damiba brings sharp investment acumen from decades in asset management across Africa. Their Ikoyi investment is already yielding returns. 

Guy Stehlik – Bringing South African Precision to Nigerian Hospitality

Hotel: BON Hotels Nigeria
Room Rate: ₦195,000 – ₦500,000 per night

For Guy Stehlik, hospitality runs in the blood. As the founder of BON Hotels, a South African hotel management brand, Stehlik has expanded aggressively across Africa with Nigeria being one of its most important markets.

Operating under BON Hotels International West Africa, the company manages a network of mid- to high-end properties across Nigerian cities. 

Though their style leans toward smart luxury rather than overt extravagance, the service quality, comfort, and security at BON Hotels rival many legacy players.

With his father Otto Stehlik, a hospitality veteran, playing a mentoring role in the business, Guy’s approach blends fresh energy with old-school know-how.

In Nigeria, BON Hotels appeals to corporate travelers, conferences, and increasingly, upper-middle-class Nigerians looking for polished stays at competitive prices.