Business A.M
No Result
View All Result
Thursday, March 5, 2026
  • Login
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
Subscribe
Business A.M
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
No Result
View All Result
Business A.M
No Result
View All Result
Home The business traveller & hospitality

Lagos hotels bookings dip, room rates go down as events business slows

by Admin
July 29, 2025
in The business traveller & hospitality

Bookings in Lagos hotels in have dropped significantly, with high incidences of cancellations that players said they have not seen in the last one decade.

Investigations by business a.m revealed that the hotels in Nigeria’s business capital have suffered many corporate and individual cancellations for both rooms and conferences as coronavirus is reported in Nigeria. As bookings go down, the hotels have also been forced to cut room rates by up to 30 percent on the average.

From the mainland to the island, the impact of coronavirus is leaving sad tales for the hotel in Nigeria’s megacity.

Tosin Okunfolami, chief operations officer, Homegate Resort, Lekki said foreign guests have stopped coming.

He said,  “We were receiving a good number of guests from China, other Asian countries like Indonesia, India and Singapore. We also have been home for many guests from Europe and America, who are either citizens of those countries, or Nigerians living there, but since February, they have not been coming, except for a few who are mostly based here in Lagos. Events have also gone down. We have not been seeing a fair deal of bookings.”

Similarly, Vernon Page, general manager, Providence by Mantis, Ikeja GRA, said even though his hotel had not received cancellation requests, there had been a significant drop in booking and slower event business.

“We have not seen any cancellations of business, some postponement but there is a significant drop in bookings and take up of rooms. Event business is also slower now,” he said in a message to business a.m.

A top staff of Intercontinental Hotels, Victoria Island, said there had been noticeable slow sales. He also indicated that conference sales have dropped as fewer corporate meetings have been taking place at the hotel recently.

“Normally discount policies are what every business-minded hotel will want to have. We give discounts to guests who stay long, or who come for conferences and corporate meetings. We apply discounts on meals and some other services too. Yes, in the last few months, since January, we have not been having event sales. I don’t know if this is directly an impact of coronavirus, but I think January and February sales are often low. We have been having lower sales on the rooms division, I think this is where I can agree that may be, the virus has begun to make a negative impact. Yes, there are some online bookings that were cancelled,” said the staff who did not want his name in print.

Also a management staff at GrandVenice Transit Apartments, Ajao Estate, Lagos international airport neighbourhood, said the global epidemic had begun to affect sales.

“Hotel business is a global business. It is like the airlines which operate from one country to another. This coronavirus is affecting the airlines, same way also, it is affecting us,” the staff said.

“Usually, our guest are mainly travellers, including airline crews. It is true that right now, we are having more of local, that is, Nigerian guests. I think there is now some kind of limitation of travels and migration by certain countries. Our guests come from all of these countries who are stopping their citizens from going travelling. We are feeling the impact,” she said.

Admin
Admin
Previous Post

Experts charge Customs on RFID installation at seaports

Next Post

Saudi leads Gulf as oil prices rebound

Next Post

Saudi leads Gulf as oil prices rebound

  • Trending
  • Comments
  • Latest
Igbobi alumni raise over N1bn in one week as private capital fills education gap

Igbobi alumni raise over N1bn in one week as private capital fills education gap

February 11, 2026

Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

November 20, 2017

How UNESCO got it wrong in Africa

May 30, 2017

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

Union Dicon Salt Plc calls on Aims Ltd. after 40% stakeholder goes silent

Union Dicon Salt Plc calls on Aims Ltd. after 40% stakeholder goes silent

March 5, 2026
World Bank turns to capital markets with IFC’s first $510m CLO

World Bank warns of looming global jobs crisis as 1.2bn youth enter workforce

March 5, 2026
Public pressure mounts for rate cuts ahead of CBN policy decision

Nigeria builds gold reserves with local supply chain as CBN holdings hit $3.5bn

March 5, 2026
Nigeria’s new tax laws could create the world’s first AI-native tax system

Nigeria’s new tax laws could create the world’s first AI-native tax system

March 4, 2026

Popular News

  • Igbobi alumni raise over N1bn in one week as private capital fills education gap

    Igbobi alumni raise over N1bn in one week as private capital fills education gap

    0 shares
    Share 0 Tweet 0
  • Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

    0 shares
    Share 0 Tweet 0
  • How UNESCO got it wrong in Africa

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • What’s Behind the Fourth-Quarter Earnings Dip?

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

Union Dicon Salt Plc calls on Aims Ltd. after 40% stakeholder goes silent

Union Dicon Salt Plc calls on Aims Ltd. after 40% stakeholder goes silent

March 5, 2026
World Bank turns to capital markets with IFC’s first $510m CLO

World Bank warns of looming global jobs crisis as 1.2bn youth enter workforce

March 5, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us

© 2026 Business A.M