Protea bets NGN11.13 billion in Nigeria's hospitality industry
Protea Group invested NGN11.13 billion (more than USD70 billion) in Nigeria's hospitality industry, the group's Chief Executive Officer Arthur Gillis said. This was according to a report published by Business Day. Gills told Business Day that Nigeria has a big growth potential in the hospitality business. The industry would most likely account for the influx of international hotel brands into the country, the report said.
Hospitality management firms and Southern African hotel brands control more than 30% of Nigeria's hospitality industry, according to the report. The Protea Hotel Group, with more than 10 hotels across the country, is the leading Southern African hotel brand. The success of the Protea brand had managed to attract other international hotel brands and skilled professionals from other countries, Business Day reported.
Gills said so many things have changed in the once hopeless continent of Africa. Gills said, "The Africa we see today is not the Africa we saw 30 years ago, 20 years ago, or even 10 years ago. For most of sub-Saharan Africa we are looking at greater political will than ever before to create wealth for countries rather than cronies and actively work towards eradicating poverty and re-establishing essential industries like the agricultural sector."