Premier Hotel, Ibadan, Settles Worker Entitlements Before Closure for Upgrading

Premier Hotel
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SUMMARY – PREMIER HOTEL IN IBADAN SETTLES WORKER ENTITLEMENTS BEFORE CLOSING FOR A MULTI-BILLION NAIRA REMODELING PROJECT, AIMING TO UPGRADE THE FACILITY AND INCREASE ROOM OCCUPANCY. THE MANAGEMENT ASSURES AN AMICABLE SETTLEMENT WITH STAFF AND PLANS TO TRANSFORM THE HOTEL INTO A 5-STAR WORLD-CLASS ESTABLISHMENT WITH MODERN AMENITIES.


The O’dua Investment Company, owners of Premier Hotel in Ibadan, Oyo State, announced yesterday that they have settled all worker-related entitlements and outstanding payments before temporarily closing the hotel for rehabilitation.

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Contrary to earlier reports, the management clarified that the closure was necessary for upgrading the old facility.

A senior manager in the company, who preferred to remain anonymous, stated, “We reached an amicable settlement with the staff, resolving their entitlement issues. That’s why there have been no demonstrations or reactions.”

Furthermore, the affected workers were given the opportunity to reapply after the hotel’s remodeling, provided they had enhanced their skills to meet international standards.

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Multi-Billion Naira Remodeling Project

The Guardian has learned that the remodeling project is a multi-billion naira endeavor scheduled to span approximately 24 months. Additionally, a similar remodeling and upgrading project will take place at the Lagos Airport Hotel, which is a sister company to Premier Hotel.

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During this process, the room occupancy capacity will increase from 89 to around 200.

Pursuit of Excellence and Commitment to Repositioning

In a press statement issued on Wednesday, Victor Aiyetoro, the Head of Branding and Communication for Odu’a Investment Company Limited (OICL), emphasized the company’s dedication to excellence and commitment to repositioning Premier Hotel. OICL has entered into a joint venture agreement with an experienced international hotel development and management company possessing the necessary expertise, technical capabilities, and financial capacity for the redevelopment and revamping of the hotel.

Phased Remodeling and Upgrading

The hotel redevelopment project will involve remodeling, renovating, and upgrading the existing structure while introducing new and modern facilities that befit a 5-star world-class hotel. This will carried out in phases, with the first phase expected to be completed within 24 months.

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Upon completion, the new Premier Hotel will feature additional upgraded rooms equipped with international standard conferencing facilities, modern recreation and fitness centers, and multiple restaurants serving African and Continental cuisines, among other amenities.

The statement further assures that all necessary statutory and regulatory approvals have been obtained from relevant agencies, and all obligations of the hotel are being fulfilled. The appropriate stakeholders are fully engaged in line with best practices.

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