Photo caption from left: Independent Non-Executive Director, Capital Hotel Plc (owners of Abuja Continental Hotel), Nurudeen Abubakar; Managing Director, Ravi Bachu; Non-Executive Director, Abdulkadir Aminu representing Board Chairman, Ramesh Kansagra; Company Secretary, Eme Samuel Ozeh; and Non-Executive Director, Paul Obi, SAN at the 44th Annual General Meeting held in Abuja
Capital Hotel PLC (owners of Abuja Continental Hotel) is carrying out extensive renovation project, which is enhancing the guest experience and strengthening the Abuja Continental Hotel’s market position.
Ramesh Kansagra, Chairman of the company who made the assertion in an address to investors at the company’s 44th Annual General Meeting held at Abuja Continental, said the company’s commitment to delivering exceptional services and experiences is unwavering .
He spoke through non-executive director, Alhaji Abdulkadir Aminu, who presided at the AGM held at Abuja Continental hotel, FCT, Abuja.
The investment in the hotel had a positive impact on the growth trajectory as the company recorded a remarkable 128% increase in revenue, rising from N7.89 billion in 2023 to N16.98 billion in 2024. This substantial growth demonstrates a strong recovery and increased market demand for our services driven by improved occupancy rates, higher room rates and enhanced customer offers, he stated
The renovation project, the chairman informed the enthusiastic shareholders includes the complete revitalization of the Ladi Kwali Centre and the addition of a new Paddle Court, the first in the country to meet international standards. These investments will not only enhance the guest experience but also strengthen the hotel’s market position, fostering continued profitability and increasing shareholder value,” he said.
Kansagra informed that Capital Hotel PLC’s focus on delivering exceptional services and experiences has earned it a reputation as a leader in the hospitality industry, stressing that the company’s commitment to sustainability is evident in its focus on delivering outstanding value to its guests and stakeholders.
According to him, the hospitality giant’s strong financial performance is a testament to its resilience and adaptability in a dynamic market, adding that the Board of Directors, management team, and staff have all played a crucial role in driving the company’s growth and success.
Kansagra expressed his heartfelt appreciation to the company’s remarkable board of directors, dedicated management team, and outstanding staff for their unwavering contributions throughout the challenging year of 2024.
The Chairman opined that the company’s outlook for 2025 is positive, with a projected GDP growth rate of 4.17% and a reduction in the fiscal deficit. Capital Hotel PLC is committed to devising and implementing innovative strategies that will empower the company to thrive within Nigeria’s vibrant and constantly evolving economic landscape.
Kansagra pointed out that 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, ” the Chairman concluded.
