AKINWALE ABOLUWADE
The management of Odu’a Investment Company Limited has announced the plan to remodel Premier Hotel Ibadan into 5-Star Hotel as part of its bid to increase the status of the hotel for excellence.
The management of OICL said that it 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.
The company, in a statement titled, ‘Premier Hotel Ibadan to be remodelled into a 5-Star Hotel,’ signed by Victor Ayetoro, Head, Branding and Communication, made available to Oyo Reporters on January, 18, indicated that the hotel would, therefore, be shut down immediately for the commencement of the upgrade.
The statement read in parts, “Odu’a Investment Company Limited, owners of Premier Hotel, Ibadan, hereby 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.
“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 ‘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.”
