Transcorp, Hilton Worldwide seal deal to build hotel in Port Harcourt
Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation of Nigeria Plc, has signed an agreement with Hilton Worldwide, to develop a 250-guestroom Hilton Hotels & Resorts-branded property in Nigeria's garden city, Port Harcourt.
Transcorp Hilton Port Harcourt will be situated at Evo Road in the city and will be a full-service, upscale hotel featuring almost 1,400sqm of state-of-the art conference facilities and meeting rooms, alongside stylish and creative leisure facilities including six restaurants and bars, a gym, spa, pools, and tennis and squash courts, all targeting Nigeria's burgeoning middle class.
This is the third partnership between Transcorp Hotels Plc and Hilton Worldwide which is creating a portfolio of world-class hotels in the country, including the award-winning Transcorp Hilton Abuja – named Nigeria's leading hotel - along with the Transcorp Hilton Lagos which is expected to open in 2017.
This announcement comes right on the heels of Trancorp Hotels' initial public offer (IPO) to raise N8 billion to pat-finance the development of the new hotel projects in Lagos and Port Harcourt. The offer closes on October 17, 2014.
Senior Vice President, Development, Europe & Africa for Hilton Worldwide,
Patrick Fitzgibbon, said: 'We are delighted to once again be partnering with Transcorp Hotels Plc and further cementing our long-standing relationship to introduce our famous Hilton Hotels & Resorts brand to Port Harcourt. In 2014 the country became the largest economy in Africa, and this fast paced growth is expected to continue for the coming years. This announcement further strengthens our growing hotel portfolio in the country - within which our core brand Hilton is at the forefront.'
Speaking at the signing ceremony, Managing Director/CEO of Transcorp Hotels Plc, Valentine Ozigbo remarked: 'We are excited to have achieved such a significant milestone in our hospitality expansion plan. It fully underscores our commitment to excellence and quality, and positions usto deliver superior returns to our stakeholders. Our long-standing relationship with Hilton Worldwide has been and remains very strategic in ensuring that our hotels are or will be market leaders, providing world-class guest experiences and hospitality to suit a diverse clientele base in Abuja, Lagos and Port-Harcourt.'
Global Head, Hilton Hotels & Resorts, Rob Palleschi, said: 'With our long-standing success and history in the country, the Hilton Hotels & Resorts brand is well-known across Nigeria's domestic and international communities. I have no doubt that Transcorp Hilton Port Harcourt will help to reinforce our reputation as the dynamic and innovative brand and forward-thinking global leader of hospitality. It is great to see the growth and success of the brand in this key strategic market.'
With its abundant supply of natural resources, well-developed financial, communications and legal sectors and the second largest stock exchange on the continent, Nigeria is regarded as an economic powerhouse within Africa. With this comes an increase in the need for travel, leisure and hospitality in various cities across the continent. Hilton Worldwide is strategically positioned to fill the gap with the creation and development of new hotels and resorts to provide world class hospitality and lasting memories.