IKEJA HOTEL PLC BOUNCES BACK TO HOSPITALITY BUSINESS

Ikeja Hotel PLC, owners of Sheraton Lagos Hotel, Sheraton Abuja Hotel and Federal Palace Hotels and Casino, is back to hospitality business after suspension.
Speaking during the pre-event towards the Annual General Meeting (AGM) which comes up in Thursday August 2nd, 2018, the chairman of the public liability company Anthony Digbe explained that the company had come back as a leading hospitality outfit in the country.
The meeting which was held at the 20th floor of the Nigerian Stockexchange in Customs Street, Lagos was titled, "Facts Behind Restructuring of the company. The chairman explained that the suspensions which began in 2015 was lifted in order to safeguard shares of stakeholders, to enable shares to start trading and to clear its backlog with its finances. It is also meant to put back it back to recovery.
The Hotel has 663 rooms plus other state of the art facilities such as conference rooms, dinning halls with trappings of modern comforts, and has been in the tourism business for the past 20 years with inherent high and quality patronage.
The current focus, according to Barrister Digbe the chairman, was to complete the forensic auditing, unlock inherent values in the Hotel, restore investors' friendliness and then return the company as a leader in tourism industry in the country.
Among those that attended the presentation were the chairman Chief Anthony Digbe, the General Manager, Mr. Alex Ibru, Company Secretary Mrs Bunmi Apata, Alhaji Abacha Bulama, Mr. Ufuoma Ibru, stokebrokers, journalists and other interest groups. The NSE chairman Mr. Oscar Onyema was allegedly unavoidably absent.
The current board had six years as the statutory tenure but was granted granted an extension.
Ikeja Hotel PLC was incorporated as properties Development Limited (PDL) on November 18, 1972 with a view to providing world-class hotel and catering services to meet the needs of an ever-increasing number of local and international business and leisure travellers entering the city of Lagos.
The Company's name was later changed to Ikeja Hotel Limited in October 1980. It became a public company in 1983, and assumed its present name on February 5, 1991.
The principal business of Ikeja Hotel PLC is the provision of services in the hospitality industry, including the development of other tourist facilities. It has continually expanded its participation in Nigeria's hospitality industry through the development and acquisition of hotel and tourist facilities.
Today, Ikeja Hotel PLC boasts of direct and indirect ownership and control of three of Nigeria's leading five-star hotels, namely Sheraton Lagos Hotel, Sheraton Abuja Hotel and Federal Palace Hotels and Casino.