Starwood to open five new hotels in Nigeria

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The new investments include the Four Points by Sheraton in Ikot Ekpene, which is due for completion next year. The others are the Four Points by Sheraton, Benin City; Four Points by Sheraton, Ibadan; Four Points by Sheraton, Ikeja; and Le Meridien, Ikoyi.

Capital expenditure on the projects is reportedly estimated at $500 million, with between 700 and 1,000 additional hotel rooms expected.

The Starwood group was an early entrant into Nigeria, but it is facing fierce competition from other hotel groups such as InterContinental, Hilton, Tsogo Sun, and Marriot.