Invitation for Expression of Interest (EOI) to Lease 227 Bed Lagos Airport Hotel, at Odua Investment Company Limited

Odua Investment Company Limited on behalf of its wholly owned Subsidiary Lagos Airport Hotel Ltd (LAHL) is inviting Expression of Interest for the LEASE, REDEVELOP, OPERATE AND TRANSFER of the 227 bed Hotels from technically experienced and financially strong potential investors. 

Odua requires a high caliber, empowered strategic partner with experience in the Hotel/Tourism or related business to lease, redevelop, operate and transform the Hotel to a 4 Star Hotel and Latia Hotel in order to enhance Lagos Airport Hotel (LAH) in the Hotel Industry in Nigeria, making them more competitive, profit oriented with an ambience of a World Class Hotel that would attract international prominence for branding from International Hotel operators.

Invitation for Expression of Interest (EOI) to Lease 227 Bed Lagos Airport Hotel, at Odua Investment Company Limited

LAHL, a Subsidiary, wholly owned by Odua's Investment Company (Odu'a) is a Limited Liability Company incorporated in 1961 under the Laws of the Federal Republic of Nigeria, having its registered office as No. 111 Obafemi Awolowo Way, Ikeja Lagos, Nigeria.LAH is strategically located on 7.4 hectares piece of land in the central business district of Ikeja, Lagos,South West Nigeria the economic heartbeat of Nigeria. Lagos State is the second largest commercial & industrial centre in Africa, home to the executive and legislative arm of the State Government and is officially the capital of Lagos State (former capital of Nigeria) with over 14 million inhabitants.
The Hotel is 10 and 15 minutes away from the local and international airports respectively.

Requirements
Interested potential investors must have the following experience and capacity:

• Successful Investment track record in the hospitality industry of at least one-4-star Hotel in Nigeria or anywhere else in the World
• Evidence of financial capability and Bank guarantee to fund the redevelopment.

The Expression of Interest must contain the following information and declarations:

1. Company details: Name of Company, Country of incorporation, Registered office and branch office(s), date of incorporation and or commencement of business.
2. Brief description of the Company including details of its main lines of business. The companys brochure which clearly demonstrates the investors’ capabilities.
3. Details of ownership structures, Company profile which would include names, qualifications and experience of key officers, particulars of Directors.
4. Annual audited Financial Reports of the last three (3) financial years.
5. Current Tax Clearance Certificate of the Company and two (2) Directors.
6. Past and present experience in the Hotel/Tourism Industry in Nigeria or any other country.
7. Payment of a non refundable application fee of N50, 000.00 in Bank Draft in favour of Odu’a Investment Company Limited

Closing Date:
25th August 2014

Submission
The EOI must be addressed and submitted in a sealed envelope marked EOI/LAH/2014 to the:

Group Managing Director
Odu’a Investment Company Limited
23 Floor, Cocoa House
Dugbe, Ibadan

Time Frame

• Expression of interest should be submitted on or before the closing date.
• Late submission of Expression of Interest would not be entertained.
• This notice shall not be construed to be commitment on the part of Odua Investment Company Limited nor shall it entitle any proposed investor to claim indemnity from Odua Investment Company Limited.

Selection Process
Parties would be shortlisted based on experience, successful track record in redevelopment and management of Hotels and financial strength.

For further information on the Hotel and their facilities, please visit www.lagosairporthotelltd.com .