Fidelity bank banner UBA banner
Nigeria projected to earn $507m from hotels by 2020

By News Express on 29/07/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 2,520


Price water house Coopers (PwC) on Thursday said Nigeria’s hotel revenue was expected to grow to $507 million by 2020.

A PwC Tourism report obtained by the News Agency of Nigeria in Lagos said in spite of the challenges in the nation’s hotel market, new hotels are still springing up.

According to the report, there are a number of new hotels planned or under construction, with a forecast that additional 4,700 rooms will be added in Nigeria in the next five years.

The report attributed the expected growth to increases in both stay unit nights and average room rates.

It said: “Hotel room revenue is expected to grow to $507 million in 2020 from the $321 million achieved in 2015, due to increases in both stay unit nights and average room rates.

“The hotel market in each country is affected by both the local and global economy, with some countries being more dependent on foreign visitors than the others.

“The growth forecast is therefore dependent on how well both the local and global economy performs and grows over the next five years.” (Independent/NAN)

Source News Express

Posted 29/07/2016 01:09:41 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Forex Market gets CBN’s $210m boost

Osun concludes dredging of 123km of waterways, canals...

Luka Modric admits tax fraud, to pay £54,000...

FOREX Glut: Dealers pick only $81.3m out of...

Nigerian Shippers Council to site dry port in...

Ambode’s convoy apprehends power-drunk Air Force cadets, rescues...

NYSC: Davido postpones U.S. tour to serve fatherland...

65,000 Christians in Katsina pray for Buhari

WHO to immunise 300,000 against cholera in Borno...

South West'll vote for Jonathan in 2015, Mimiko...

APC expels deputy chief whip over alleged anti-party...

Armsgate: Court grants Dokpesi N200m bail

 

Latest News NIPOST revokes licences of 30 courier companies Asaba Airport gets first international flight PDP challenges Buhari, APC to name achievements in the north Okorocha warns Igbo leaders against adoption of candidates ASUU, FG hold closed door meeting over ongoing strike 19-year-old man arrested for possession of parts, can of blood, others FG, Southeast states have abandoned us: Igbo Muslims 2019: Buhari launches Unity Band, preaches peace APC, Bayelsa govt. disagree over Airport project Anambra APGA suspends 3 lawmakers over impeachment saga What DSS report says about Oshiomhole, By Fredrick Nwabufo Preferred bidder for Ibom Deep Seaport selected

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (420,707 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (389,816 views) Shameless Genevieve Nnaji exposes breasts in public (322,688 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (271,361 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (243,962 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (227,405 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (208,900 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (190,369 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (175,721 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (168,496 views) Lagos plane crash: Journalist releases victims’ names (164,957 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (151,886 views)

 

Zenith Zero Balance First Bank banner

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (72) Business & Economy (3,794) Business Verdict (54) Columnists (962) Complaints & Requests (94) Enterprise & Opportunities (208) Entertainment (566) Features (669) Global Business Monitor (309) International (2,681) Interview (166) Live Commentary (28) Love Matters (146) Maggie's Blog (33) News (40,566) Opinion (1,140) Pidgin (13) Politics (7,734) Religion (899) Sports (1,773) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera