UAC Property Development Company (UPDC), Nigeria’s frontline real estate developer, and Premium Swiss Hospitality (PSH), a highly reputable company with head office in Zurich, Switzerland, have signed an agreement for the management of Festival Hotel Conference Centre & Spa owned by UPDC.
The agreement was signed recently in Lagos, Nigeria by the representatives of both companies, Odunayo Ojo, the Chief Executive Officer of UPDC, and Shousha Moshen, President/Founder of PSH,.
UPDC is a leading real estate investment company with specialty in asset development for sale through direct investments and joint ventures. The company also has a strong footprint in facilities management— providing building and operation maintenance for commercial and residential properties across several states in Nigeria.
The company is also into hospitality business, having 95 percent stake in UPDC Hotels Limited which owns Festival Hotel, a 471-room hotel with 9 conference rooms and a banquet hall.
PSH, according to Moshen, is Swiss-rooted with huge cultural diversity. He said the company was established in 2015, and boasts a specialized team in the hospitality industry, with experience spanning across 25 years.
“We have regional offices in Cairo, Egypt – Middle East & North Africa; Lagos, Nigeria – West Africa; and Nairobi, Kenya – East Africa; it’s an honour for us to manage the second largest hotel in Lagos and the fourth largest hotel in Nigeria. We are very proud to do that as Premium Swiss Hospitality PSH, Zurich, Switzerland,” he noted.
Moshen disclosed that they had a strong presence in Africa and in Nigeria and that their expertise would increase the quality and standards of hotels in Nigeria.
He recalled the rich history of Festival Hotel, which dates back to 1977, adding that they were proud to be part of the nice story of the hotel and their partnership with UPDC which, he noted, was one of the biggest companies in Nigeria, assuring that with their know-how, they would move the hotel forward and elevate its standards.
Premium Swiss Hospitality, he said, has a huge portfolio of 60 hotels, including Festival Hotel and Champion Hotel in Lagos that would be opened on July 1, 2023, among others. He said they were in the market with an international team.
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“Teamwork, undoubtedly, improves workplace culture. The effect of having a great team is the only reason we are where we are today. We aim to achieve continuous improvement in the quality of our service. Premium Swiss Hospitality is a true epitome of quality,” he said.
Ojo noted that the signing of the Management Agreement was historic for UPDC Hotels, Festival Hotel as well as for UPDC. He explained that the agreement marked the beginning of a new era in the history of the hotel, adding that a new dawn has come to the hotel.
The hotel, he recalled, has gone through many transitions. “UPDC acquired this hotel in 2001 as Durbar Hotel, which was one of the historic hotels in the country and over the years, UPDC has tried to bring the hotel to life under different administrations and different companies, but today, we are celebrating the official signing of a Management Agreement with Premium Swiss Hospitality, Zurich Switzerland. This is an association we are very proud of, an association that we believe will take this hotel to its next level,” he said.
Ojo also introduced the hotel’s new manager, Yemi Dada, adding that the hotel has received new investment from its shareholders that would boost its rebirth after the downtime caused by the COVID-19 pandemic on businesses.
“We are celebrating the rebirth of this hotel, given that since the pandemic when the hotel was shut down, we have been repositioning this hotel and also re-operationalising it for better performance. The idea is that the hotel has now received some new investment from its shareholders.
We have brand new infrastructure installed, from power to water to ambience to the upgrade of the rooms. The hotel is poised for a new beginning and that is one of the things we’re celebrating today. We want to tell the whole world that the Festival Hotel is open for business and this is not business as usual. This hotel can compete with any other local or international hotel anywhere we can find around here,” Ojo said.
The PSH team at the signing ceremony included the Samuel Okeniyan, Regional Director for Africa, Korede Balogun, the Financial Controller, and Chuks Nwokeji, the Legal Adviser, Nigeria.
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