BEST PRMIER HOTEL FOR SALE

REQUEST FOR EXPRESSION OF INTEREST IN THE ACQUISITION OF A FOUR ★★★★ HOTEL IN PORT HARCOURT, NIGERIA.

BACKGROUND

The Best Premier Hotel in Port Harcourt is an international standard four-star hotel which is a market leader in Port Harcourt and environs. It is well maintained and boasts of a clientele of the leading oil and gas companies and power generation and distributions companies and their support services companies. The owners of the hotel have decided to spin-off this hotel as a result of change in their corporate strategy.

HOTELS IN PORT HARCOURT

1. The hotel industry in Nigeria boost about 7,000 hotels and 245,000 rooms ranging from the luxurious five stars to smaller one star hotel.

2. The industry rakes in revenue of 562 Billion in year 2014 with 63% being room rentals. (Augusto Research).

3. Hotel and Tourism contributed 1.56 Trillion being the equivalent of 1.75% of GDP in 2015. This is expected to rise to 2.4% in 2016 and subsequently to 5.8% in 10years. (Office of statistic)

4. Hotels have been concentrated in the cities with highest level of economic activities. Lagos has 21 five star hotels, Abuja has 6 and Port Harcourt can boast of four.

5. The leading hotels in Port Harcourt that compete with Best Premier Hotel include;

i. NOVOTEL

ii.              LE MERIDIAN

iii.            GOLDEN TULIP

iv.            DE EDGE HOTEL

v.              PRESIDENTIAL HOTEL
               iv.         BEST PREMIER

THE OPPORTUNITY

We present an opportunity to acquire an excellently developed four star hotel in the cosmopolitan city of Port Harcourt, Southern Nigeria.

The hotel previously flew the flag of;

PROTEA

BEST WESTERN (PREMIER) BRANDS.

This opportunity provides the acquirer with the following advantages;

1.     Well built and maintained four star hotel

2.     Existing clientele in the Oil and Gas and Power sectors

3.     Eliminates development activities and provides instant market entry

4.     Excellent Management and hotel staff.

5.     Excellent location in Port Harcourt.

THE ASSET.

The hotel is situated at KM 27 Aba-Port Harcourt express way, on a piece of land measuring an area of 4,000 M² with a gymnasium, Lawn tennis court, conference rooms and shopping facilities. It has all the amnesties of a standard four-star hotel. It has two stand-by generators and inverter totaling a capacity of 47,5KVA.

FACILITIES

Functional facilities in the hotel include:

INDOOR	LODGING	MEETING	OUTDOORS
· Reception	· Presidential suite	· Banquet hall	· Terrace bar/event center
· Lounge	· Junior presidential suite	· Board room	· Parking
· Bar	· Suite	· Meeting room	· Gymnasium
· Restaurant	· Superior room		· Security house
· Kitchen	· Lounge		· Admin block
· Store			· Tennis court
· Laundry

Facilities which are under various stages of development:

· Swimming pool

· Cinema hall

· Event hall

· 40 rooms

· 3 board/meeting rooms

· 3 office apartments

· Tennis court bar

EXPRESSION OF INTEREST

Expression of interest should reach the contact below. Such EOI should be written and addressed on the letterhead of prospective acquirer. It should state the following;

1. Name of the Company

2. Line of Business

3. Turnover in the last three audited financial years (in the ease of individuals, statement of Net worth attested to by your bankers)

4. Any strategic affiliations with foreign equity holders

5. Date of incorporation and RC number.

6. Name and contact details of primary contact

NEXT STEPS.

On receipt of a satisfactory EOI from prospective investor, such investor will be given opportunity to conduct a site visit to the Hotel, will be given access to the corporate documents in the virtual data room (VDR) and be requested to submit a bid within the stipulated time line indicated in the VDR.