Travel/Tourism
Ongoing Renovation, Public Water Shortage Affecting Our Business—Capital Hotels
By Adedapo Adesanya
The management of Capital Hotels Plc, owners of Sheraton Abuja Hotel, has assured shareholders of the hospitality company that efforts would be made to create better value for them by ensuring a better market presence for the business despite the huge challenging operational environment.
Chairman of the interim board, Mr Anthony Idigbe, gave this assurance on Monday at the company’s ‘Facts Behind the Figure’ held at the Nigerian Stock Exchange (NSE) in Lagos. The team was also honoured yesterday by the NSE with the closing gong ceremony.
Addressing investment analysts at the event on Monday, including Business Post, Mr Idigbe said out of the 575 guest rooms the firm’s flagship hotel, Sheraton Abuja Hotel, has, 266 are presently undergoing renovation, but 97 rooms should be completed in the first quarter of 2020. He said these will include state-of-the-art club rooms and suites.
He express optimism that when these 97 rooms are released for customers’ use early next year, they should improve the “market share [of the company], enhance revenue [and] boost [its] presence.”
According to Mr Idigbe, “As you all know, Capital Hotels has been undergoing some transformation, we are happy we have a cohesive board for corporate governance and we have adopted many policies so as to be able to focus the components on the business.
“The result is that in the last two years, we have been able to declare profits and we hope to continue in that fashion. We have ambition to be the largest provider of leisure and business spaces in Nigeria.
“We are working very hard on refurbishing our rooms, banqueting and conferencing facilities. Also, we have returned our marketing plans and strategy and we hope to continue sustaining the current performance and even exceeding it.”
An Executive Director of Capital Hotels, Mr Robert Itawa, during his presentation, explained that the renovation was part of efforts to turnaround fortunes of the company, following decisions by the new management to commence an upgrade of some facilities in the hotel.
He assured investors that the company will improve its service delivery so as to result into more return of investment for shareholders of the hospitality firm, which was readmitted on the stock exchange in 2008.
However, Mr Itawa pointed out some factors having negative impact of the company’s numbers, which include a high operating cost. He explained that the organisation had to book the cost of implication of legacy staff schemes following an agreement with the unions. He added that the cost is expected to spread over a three-year period.
“For the past three years, this legacy cost alone is about N300 million. We have paid N110 million this year and from 2010 till date, cost associated with legacy system alone is N2.8 billion.
”That is why we have entered into negotiations with the union because we felt if we do not do something, the hotel will die and people will not get their money.
“In the next one year, we would have completed the payment of whatever that is outstanding. We have been paying massively every year since that period without fail and that is why we are experiencing industrial harmony,” Mr Itawa informed analysts present at the meeting.
Mentioning other challenges facing Capital Hotels, Mr Itawa said they include kidnapping, insurgency, institutional failure, poor transport system, power outage, public water shortage, integrity shortage amongst others.
Giving an outlook for the company in the future, he said that the firm may consider enhancing its topline by 60 percent mainly from the newly renovated 97 rooms.
While fielding questions from participants yesterday on the tenure of the present interim team, Chairman of the board, Mr Anthony Idigbe, assured that the board would ensure to complete its mandate within the time frame and not stay longer than necessary.
In his words, “I want to assure you that some of us will like to exit as quickly as possible and as soon as necessary. We continue to see it as a national service to perform this role.
“We are very proud of the work we have done so far, but be assured that we will not stay a minute longer than necessary.”
“We are happy that by the first quarter of next year, substantial progress would have been made in the decision process. The Securities and Exchange Commission (SEC) is going to ensure that rights of fair hearing are not breached. The process is very important. We are trying to get a solution that would be sustainable,” Mr Idigbe added.
SEC had on May 4, 2017, dissolved the former board of directors and appointed an interim board led by Mr Anthony Idigbe. The action was taken to protect investors of the company as well as integrity of the capital market and to restore the lost fortunes of the company in the shortest time possible.
The new interim board was mandated to oversee the conduct of a forensic investigation into the affairs of the company, considering the allegations of unauthorised sale of shares and diversion of proceeds from the sale of shares, amongst others.
Travel/Tourism
Air Peace Partners ADINA to Strengthen African Trade
By Modupe Gbadeyanka
To strengthen African trade and diaspora connections, one of the leading airlines in Nigeria, Air Peace, partnered with the Africa Diaspora Investment Network Alliance (ADINA) for its summit held in Ghana on December 27, 2024.
The airline operator said it backed the event to solidify its commitment to fostering stronger ties between Africa and its global diaspora.
The programme facilitated conversations around trade, investment, and economic empowerment, positioning the diaspora as a significant force for Africa’s economic transformation.
At the summit held at the Kempinski Gold Coast City Hotel in Accra, the Head of Sales and Business Development at Air Peace, Mr Davids Odeyemi, emphasized the airline’s mission to connect Africa and its diaspora.
He highlighted Air Peace’s extensive network, which offers seamless travel solutions for diasporans seeking to reconnect with their roots, explore their heritage, and invest in Africa’s burgeoning markets.
Mr Odeyemi also reaffirmed the airline’s role as a driver of intra-African trade, enhancing connectivity to enable the movement of goods, services, and people, thereby creating jobs and fostering economic growth.
Air Peace’s partnership with the ADINA Summit also aligns with its broader commitment to promoting tourism and showcasing Africa’s rich cultural heritage. The airline’s continuous investment in a modern fleet underscores its determination to provide a world-class travel experience, reinforcing its position as a catalyst for African development.
The programme underscored the critical role of diaspora remittances in bolstering local economies, with discussions focusing on the potential of the diaspora to surpass traditional foreign direct investments.
Air Peace, through this partnership, gained access to a high-level network of African and diaspora leaders, creating opportunities to connect with talent, clients, and collaborators while amplifying its branding and marketing initiatives.
By actively participating in the ADINA Summit 2024, Air Peace reaffirmed its dedication to shaping the continent’s future. This partnership exemplifies the airline’s leadership in African aviation and its unwavering commitment to driving progress across the continent. Together with ADINA, Air Peace is helping to unlock Africa’s economic potential and strengthen its global connections.
Travel/Tourism
Musawa, Governor Mba Commission Enugu Christmas Village
By Dipo Olowookere
The Enugu Christmas Village has been commissioned by the Minister of Arts, Tourism, Culture, and the Creative Economy, Ms Hanatu Musawa; and the Governor of Enugu State, Mr Peter Mba.
This development officially kicked off the holiday season in the state, giving residents and others from across Nigeria and outside the opportunity to relax in an atmosphere of love, positioning Enugu as a key destination for cultural and holiday tourism.
Facilitated by Omu Resort, a leading tourism promoter in Africa, the Enugu Christmas Village is set to become the heartbeat of holiday celebrations in the state.
The company has already organised a 25-day festival at the village designed to attract residents, visitors, and dignitaries from across the region.
With its vibrant atmosphere and festive attractions, the Enugu Christmas Village boasts an array of attractions such as a waterpark, roller skating, archery, amusement rides, and much more.
At its centre is a breathtaking display of 500,000 Christmas lights, illuminating the village in a magical glow that promises to captivate visitors of all ages.
The festival goes beyond the lights and rides, offering a rich tapestry of events that celebrate the state’s cultural heritage.
Highlights include Afrobeat Concert, Praise Night, Highlife Concert Street Carnival, Cultural Parade and a Grand Fireworks Show.
One of the most anticipated moments is the Santa Street Storm, where over 100 Santa Claus figures riding tricycles will parade through the streets, distributing gifts to orphanages and the less privileged, spreading joy and goodwill.
Running from December 7 to December 31, 2024, the Enugu Christmas Festival is more than just a celebration of the holiday season. It underscores the state’s cultural vibrancy and its potential as a leading tourist destination.
The festival offers a unique opportunity for families and friends to come together, celebrate, and unwind in a festive atmosphere. It is also expected to fosters unity and showcases the rich cultural heritage of Enugu State, while promoting arts, tourism, and community well-being.
Travel/Tourism
Emirates Unveils Airbus A350-900 in Dubai
By Aduragbemi Omiyale
One of the leading airline operators, Emirates Airline, has officially unveiled its first Airbus A350-900 at an exclusive event showcase in Dubai attended by aerospace partners, government officials and dignitaries, members of the media, as well as aviation enthusiasts.
The Emirates A350 features three spacious cabin classes, accommodating 312 passengers in 32 next-generation Business Class lie-flat seats, 21 Premium Economy seats and 259 generously pitched Economy Class seats.
The latest onboard products reflect the airline’s commitment to delivering a premium passenger experience while optimising operational efficiency. The Emirates A350 is the first new aircraft type to join Emirates’ fleet since 2008.
Apart from its newly delivered A350, Emirates operates two other aircraft types around the world to 140 destinations – the widebody Boeing 777 aircraft and the iconic ‘double decker’ Airbus A380 aircraft.
The A350’s introduction will enable Emirates to expand into new destinations globally, including mid-sized airports unsuited for larger aircraft. The Emirates A350 will be delivered in two versions – one for regional routes and one for ultra long-haul routes.
The Emirates A350 takes technology to another level. Customers can now adjust their electric window blinds at the touch of a button.
The aerBlade dual blind system will feature in Business and Premium Economy Class offering two shaded options, and the aerBlade single blind systems will make a debut in Economy Class, with all blinds showing the Emirates Ghaf tree motif when closed.
Business Class on the Emirates A350 will feature 32 luxurious leather ‘S Lounge seats’, inspired by the Mercedes S Class for an exceptional travel experience. The A350 aircraft will feature brand new additions of wireless charging on the side cocktail table in Business Class, and in-seat lighting controls with 5 streams of light. The 1-2-1 seat configuration in the A350 Business Class ensures a very private, exclusive experience.
Speaking at the event, the chairman of Emirates Airline, Mr Ahmed bin Saeed Al Maktoum, said, “Today is an exciting milestone for Emirates as we showcase our first A350 and usher in a new era for our fleet and network growth.
“This aircraft sets the stage for Emirates to spread its wings farther by offering added range, efficiency and flexibility to our network, enabling us to meet customer demand in new markets and unlock new opportunities in the cities that we serve.
“Onboard, our updated interiors and seating configurations will help us deliver a more elevated and comfortable experience to travellers across every cabin class.
“The 65 Emirates A350s joining our fleet in the coming years fit into the airline’s broader plans to support our visionary leadership’s Dubai’s D33 Strategy, which will transform the city into a pivotal hub in the global economy by expanding its connectivity and reach.”
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