Premier Hotel, one of the oldest hotels in Nigeria and located in Ibadan, the Oyo State capital, has been shut down.
It was learned that the hotel, owned by Western Hotels Limited, a subsidiary of Odu’a Investments Limited, also lay off some staff.
It was gathered that the hotel located in the Mokola area of Ibadan was shut on Wednesday, December 28, 2022.
Speaking on the development, the Group Managing Director of Odu’a Investments Limited, Adewale Raji, said the hotel was shut down temporarily so that it could be renovated and its facilities upgraded.
Raji stated that the move was to make the hotel and others owned by the company world-class.
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“We are renovating Premier Hotel and upgrading its facilities to make it a five-star hotel in collaboration with a global brand chosen by the board with the help of KPMG and approval of the shareholders.
“We want to increase the number of rooms we have, and increase the capacity of the halls. We are conscious of health and safety of the people, so we had to disengage the employees. We had to pay all of them off,” he told Nigerian Tribune.
The GMD said the decision to temporarily shut down the hotel and renovate it was taken in the best interest of the region and its people, adding that the company was working with an international partner to improve the hotel’s services and reputation.
Raji, who debunked insinuations that the hotel had been sold, said the decision to close and renovate the facility was approved by all the owner-state governors.
He, however, assured that all stakeholders will be happy with the decision to renovate the hotel when eventually unveiled.
It was gathered that the hotel had been battling declining patronage as a result of ageing structures and outdated facilities.
This was said to have prompted the management to seek international brands to salvage the hotel and shore up its fortunes.
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