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With sustained investments in its Abuja property, Capital Hotel PLC (owners of Abuja Continental Hotel), has strengthened its position in the Nigerian hospitality industry.
The hospitality company’s investments in facility upgrades have also boosted the industry with stellar service delivery to guests, amid strong performance.
Speaking at the company’s 44th Annual General Meeting, which was held at Abuja Continental Hotel recently, Ramesh Kansagra, chairman, Capital Hotel PLC, highlighted the company’s strong financial performance and commitment to delivering exceptional services and experiences.
“The hospitality industry in Nigeria has demonstrated remarkable resilience in the face of economic fluctuations, with a significant surge in domestic tourism driven by factors such as currency fluctuations and a growing appreciation for local destinations,” Kansagra, who spoke through Abdulkadir Aminu, non-executive director of the company, noted.
The strong performance is despite the persisting challenges, notably elevated inflation rates, which reached 34.8 percent in early 2025. But while inflation is expected to ease as the effects of economic reforms take hold, the chairman noted that it remains a factor that could influence consumer spending patterns.
According to him,Capital Hotel PLC is well-positioned to capitalize on this trend, with its strategic location and commitment to delivering outstanding value to its guests.
He informed the enthusiastic shareholders that the company’s extensive renovation project is yielding impressive results, with the complete revitalization of the Ladi Kwali Centre and the addition of a new Paddle Court.
“The ongoing projects include a thorough revitalization of the hotel’s façade, aiming to present a more modern and inviting exterior. We are also in the process of modernizing our guest rooms, ensuring they are equipped with the latest technology and contemporary designs, as well as renovating Tower 3 to enhance overall guest comfort, among other improvements,” he said.
Read also: Capital Hotels records 48% revenue growth in 2023
The investments, according to him, will not only enhance the guest experience but also strengthen the hotel’s market position, fostering continued profitability and increasing shareholder value.
He said that the company’s focus on delivering exceptional services and experiences has earned it a reputation as a leader in the hospitality industry, amid a commitment to sustainability, evident in the outstanding values it delivers to its guests and stakeholders.
“The company’s strong financial performance is a testament to its resilience and adaptability in a dynamic market. The Board of Directors, management team, and staff have all played a crucial role in driving the company’s growth and success,” the chairman noted.
Kansagra also expressed his heartfelt appreciation to the company’s board of directors, management team, and staff members for their unwavering contributions throughout the challenging year of 2024.
According to him, the company’s outlook for 2025 is positive, with a projected GDP growth rate of 4.17 percent and a reduction in the fiscal deficit.
He reiterated the hotel’s commitment to devising and implementing innovative strategies that will empower the company to thrive within Nigeria’s vibrant and constantly evolving economic landscape.
“The company’s focus on delivering outstanding value to its guests and stakeholders will continue to drive its growth and success. With its strong financial performance and commitment to sustainability, Capital Hotel PLC is well-positioned for a bright and prosperous future,” Kansagra noted further.
Looking ahead, the chairman said that Nigeria’s economic landscape in 2025 is poised for notable growth, underpinned by a series of strategic reforms and positive market dynamics.
He also assured of the company’s commitment to devising and implementing innovative strategies that will empower it to thrive within Nigeria’s vibrant and constantly evolving economic landscape.
“Our focus will be on delivering outstanding value to our guests and stakeholders through tailored services and exceptional experiences. In doing so, we aim to play a vital role in bolstering the country’s economic growth, creating job opportunities, and supporting local communities, thus ensuring a beneficial impact that resonates beyond our business operations,” he concluded.
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