BusinessDay
Nigeria's leading finance and market intelligence news report.

Hoteliers may abandon franchise, agreement as business declines

...many now self-managed

Considering the high exchange rate and persisting lull in business occasioned by the coronavirus (COVID-19) pandemic, many Nigerian hoteliers are now struggling more to pay franchise and management fees, which are dollar denominated, to their foreign brand managers. Due to the development, some are already defaulting in fulfilling the management agreements they signed with their…



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