Ace banker, former chief executive officer of Zenith Bank and current chairman of Quantum Luxury Properties Limited, Jim Ovia, has signed a multi-billion naira hospitality deal with the global hotel group, Marriott.
The deal signed between Quantum Luxury Properties Limited and the Marriott on Saturday, will facilitate the establishment of a 150- room five star hotel on the Ozumba Mbadiwe Waterfront, Victoria Island, Lagos.
Ovia, while signing the agreement to take over Marriot, which is currently home to Radisson Blu and Oriental Hotel, disclosed that the Lagos Marriott Hotel is to launch in 2014 and will boast all the facilities and luxury associated with an international market leader like Marriott.
“We are proud to have the opportunity to partner with a world-class brand like Marriott.
“We identified a gap in the marketplace within the hospitality industry, to support the burgeoning sectors. Nigeria is well known for its hospitality, and Lagos as a mega-city deserves world class facility to complement its status.”
President of Marriott (Africa and the Middle East), Alex Kyriakidis, who said the arrival of Marriot in Lagos marks a tremendous milestone in the hospitality business in Nigeria with a world class brand, expressed delight in associating with Jim Ovia, considering his pioneering track record in the telecommunication and banking industry.
Marriott International, Inc. was founded in 1971 with headquarters in Bethesda, Maryland as an American diversified hospitality company which operates franchise, hotel licencing and corporate housing properties worldwide.
Having been listed on the New York Stock Exchange (NYSE) with revenue of $12.1 billion and net income of $198 million, in 2011, it has operated, franchised or licensed 3,718 lodging properties with 643,196 rooms in over 73 countries and territories around the world as at December 30, 2011.
It started operations in Africa in 1982 with the Cairo Marriott Hotel, with a regional presence consisting of nine properties in three countries, offering 3,941 rooms.
