Ibadan, Jan. 18, 2023 – The Odu’a Investment Company Limited says it has entered into a joint venture agreement with another firm to turn Premier Hotel in Ibadan to a five-star hotel.Â
Mr Victor Ayetoro, Head, Branding and Communication in Odua Investment Company, said this in a statement on Wednesday in Ibadan.
He said that the Premier Hotel would be shut down immediately “in order to have a safe environment for the commencement, execution, and timely completion of the project”.
According to him, the joint venture agreement is with a seasoned international hotel development and management company with the requisite expertise, technical and financial capacity for redeveloping and revamping the hotel.
Ayetoro said that the hotel redevelopment project would entail re-modelling, renovating and upgrading of the existing structures.
He said the upgrade would also entail adding new and modern facilities befitting of a five-star world class hotel.
“This will take place in phases with anticipation that the first phase will be completed within 24 months.
“The ‘New Premier Hotel’, when completed, will transit into additional upgraded rooms, equipped with international standard conferencing facilities, modern recreation and fitness centres, multiple restaurants serving African and Continental cuisines, among others.
“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.”
Ayetoro said that all obligations of the hotel would be fulfilled and appropriate stakeholders in this respect were fully engaged in line with the best practices. (GBN)
