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How can I start a small hotel in Nigeria?

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How can I start a small hotel in Nigeria?

Hotel Business in Nigeria: Guide on How To Start (2021)

  1. Write a hotel business plan.
  2. Get a location.
  3. Build Structures.
  4. Register your hotel at the appropriate commission.
  5. Hire staff and get them trained.
  6. Advertise.
  7. Wrapping Up.

How do I get a hotel license in Nigeria?

Get Registered For your hotel business, you will need to register with the Corporate Affairs Commission (CAC) and the Nigerian Tourism Development Commission (NTDC). Registering with the NTDC gives the advantage of having your hotel listed in their official tourism guide.

How much money do you need to start a hotel business?

The average cost of starting a hotel in the US ranges from $750,000-$1,000,000 for a small motel, to the national average being around $22,000,000 for a hotel with around 115 rooms, and much higher for luxury and high-rise hotels (source.)

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Is hotel business profitable in Nigeria?

Hotel business is a very profitable venture because people tend to move around every day for the purpose of business or leisure. Investors are encouraged to venture into it because as long as humans continue to move around the globe, profit is guaranteed. Three star hotels are most common in Nigeria.

How much do hotel owners make in Nigeria?

Profitability of hotel business in Nigeria If you charge a minimum of N3000 per night, this means that if you can engage all your rooms daily, you will be making at least N3000×10= N30,000 every day, excluding revenue you make from drinks and food. And so every month you can pull up to N900,000 minimum in revenue.

How do I get money to start a hotel?

You can bootstrap your hotel business with your own savings, or you can secure funds from friends and family, angel investors, bank loans, government loans, or even crowdfunding. Popular loan options for hotel businesses include SBA 7s and SBA 504 loans.

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How do I start a guest house in Nigeria?

To start a hotel/guest house business, there are steps you need to take and things you need to consider before setting out.

  1. Carry out a feasibility study.
  2. Estimate the cost.
  3. Raise funds.
  4. Buy a franchise name.
  5. Register your hotel.
  6. Location.
  7. Build.
  8. Employ quality and honest staff.

What does a person need to run a hotel?

How to start a hotel business:

  • Step 1: Make a plan.
  • Step 2: Create your Unique Value Proposition (UVP)
  • Step 3: Develop your marketing plan.
  • Step 4: Enquire about permits and zoning.
  • Step 5: Raise startup capital.
  • Step 6: Find hotel premises, build and furnish.
  • Step 7: Recruit staff.
  • Step 8: Put systems in place.

Is hotel a good investment in Nigeria?

Hotel business is very profitable in a country like Nigeria where we have a lot of heavy spenders. In Nigeria, people love flexing and merriment and running your own hotel is a great avenue to tap from this source of revenue. Take for instance that you have a hotel with about 10 rooms.

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How much does it cost to start a small hotel?

The cost to open a small hotel in the United States is around $1,000,000, and the average cost to open a 115-room hotel is around $22,000,000.