Read Sheraton Ikeja Lagos Q3 2020 Letter To Shareholders Indicating Losses and Land Revocation By Nigerian Government

2020 has been a difficult year for many businesses with the tourism industry being one of the hardest hit. Profitability has been difficult to achieve due to heavy declines in revenue brought on by the lockdown faced by most countries worldwide. Hotels in Nigeria have been fraught with financial hardships. Oriental hotel is for sale. Continental Lagos is battling diminished revenues and high expenses. The management of Sheraton Ikeja also cry out.

The Letter:

Sheraton Ikeja has initiated a lawsuit against the Lagos State Government for attempts to revoke the hotel’s rights to the land.

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