“Hospitality industry more lucrative, profitable in Nigeria”

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Hospitality business is much more profitable in Nigeria compared to what is obtainable in other countries, the Chief Executive Officer

Hmadian in an interview with The Guardian yesterday, explained that the ease of doing business in the country, in addition to the low cost of rent and wages made the hospitality sector a profitable one.He said: “I really do not know why some businesses like ours close down, but I can tell you that Nigeria is one of the most profitable countries I have worked in, I have work in Lebanon, Dubai, and a few other countries.

“For instance, if you are paying N20 million yearly rents in Nigeria, that amount is one month rent in other countries. You may need to import materials and equipment, but in the long run, Nigeria is one of the most profitable places to run businesses like this.” Hmadian listed some of the major challenges in the sector as lack of power and dearth of good and quality suppliers.

 

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