Journalism of Courage

Premier Hotel, Ibadan, shut down for two years, to transform to world-class 5-star facility

``Odu’a Investment Company Limited (OICL) has entered into a joint venture agreement with a seasoned international hotel development and management company with the requisite expertise, technical and financial capacity for redeveloping and revamping the hotel’’

In a bid to remodel and revamp it to a five-star hotel, Premier Hotel on the top of Mokola hills in the ancient city of Ibadan, the Oyo State capital, has been shut down for the next two years.

The closure of the 87-room hotel is to create a safe environment for the commencement and execution of the project.

The first phase of the multi-billion project will be completed in 24 months in December 2024.

The owners of the facility, the Odu’a Investment Company Limited (OICL) established by the Southwest States, said the move became imperative to give the property a befitting facelift and remodeling of global standard by adding more facilities.

“A statement said:“This is to notify our stakeholders and the general public that in pursuit of excellence and commitment to reposition the hotel, the company has entered into a joint venture agreement with a seasoned international hotel development and management company with the requisite expertise, technical and financial capacity for redeveloping and revamping the hotel.

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“As a result, Premier Hotel will be shut down immediately in order to have a safe environment for the commencement, execution, and timely completion of the project.

“The hotel redevelopment project will entail remodeling, renovating, and upgrading the existing structure as well as adding new and modern facilities befitting of a 5-Star world class hotel.

“This will take place in phases with anticipation that the first phase will be completed within 24 months.’’

The statement signed by Mr Victor Ayetoro and given to Persecondnews added: “The ‘’New Premier Hotel’’ when completed will transit into additional upgraded rooms, equipped with international standard conferencing facilities, modern recreation and fitness centers, multiple restaurants serving African and Continental cuisines, etc.

“We have sought all necessary statutory and regulatory approvals from all relevant agencies.

“All obligations of the hotel are being fulfilled and appropriate stakeholders in this respect are fully engaged in line with best practice.’’

 

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