Business InterContinental Exits Nigeria Over Debt Fallout With Partners

Discussion in 'Business News' started by ese, Jan 13, 2018. Views count: 468

  1. ese

    ese Administrator

    InterContinental Hotels Group Plc is withdrawing from Nigeria four years after it opened its first site in Africa’s most populous country following a disagreement with local partners over the terms of how to bring the property out of receivership.

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    The U.K. company’s 358-room hotel in Lagos, Nigeria’s commercial capital, will no longer operate as an InterContinental-branded property as of Jan. 18, Simon Stamper, IHG’s director of African operations, said in an emailed statement on Wednesday. The company’s other hotels in sub-Saharan Africa are in South Africa, Mauritius and Zambia.