Our Portfolio

Our Market- Hospitality

The markets in which we have grown and has great potential for further growth regardless of economic indices and global events like covid-19. This means that there is demands for hotel bookings as well as hall rental.s

Overview of the Hospitality Market

The demand for hotels in Nigeria, especially Lagos is largely driven by business travel which negates the norm across the continent, where hotel lodgings are largely driven by tourism. Therefore only a small fraction of the industry’s revenue is contributed by tourism. Notwithstanding, Nigeria is endowed with a number of tourist attractions across the country. Major cities like Lagos, Abuja and Port Harcourt account for the bulk of hotel business in Nigeria due to significantly higher levels of commercial activities in comparison to other cities across the country.

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Industrial Economics

  • Asset Size: We estimated that the asset size of the Lagos Hotel Industry stood at ₦1.76 trillion as at December 31, 2019. Given the number of projects by both local and international brands within the state, we estimate that the industry asset size will grow to ₦1.94 trillion by the end of 2021.
  • Profitability: The Lagos Hotel Industry’s revenue at the end of 2019 is estimated at ₦387.4 billion, a 9% increase over the prior year. Overall, the Lagos Hotel Industry profitability remains good, given a gross profit margin and operating margin of 47% and 27% respectively. With added and specialized services, profitability in the hotel market is expected be on an upgrade trend.

Our Competitive Advantage

Competition within the industry is high, following the influx of global hotel chains and growth of local brands. Demand remains concentrated in the corporate customer segments with bulk room reservations for business meetings, conferences and event venues. However, the biggest opportunities remain within the economy or mid-scale market due to Nigerian’s large population size and growing middle class. We intend to gain market share by leveraging on pricing, brand differentiation, value added services, collaboration with competitors within and outside our location of operation.

Market Drivers

The market drivers in the Hospitality industry are as follows:

  • Business Travel
  • Influx of International brand hotels
  • Increasing activities in the entertainment Industry
  • Social Media Marketing
  • Tourism

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Our portfolio

We own and operate a diversified property portfolio of  real estate assets.

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Suru Express HotelYour ideal comfortable, top-quality guest accommodation at pocket-friendly prices with the best of amenities.

We offer comfortable, top-quality guest accommodation at pocket-friendly prices in four categories - the Suite, Deluxe, Standard and Express Gold rooms which are each fully air-conditioned and fitted with a king-sized bed and the best of modern room/bedroom accessories to make the guest as comfortable as could be desired.

Suru Express Limited currently have three hotels in different locations in Lagos State. The first is a 32-room budget hotel in the highbrow GRA Ikeja, another 21-room budget hotel in the heart of Surulere, Lagos and a 92 room’s hotel with conference facilities in Ikorodu, Lagos.

Suru Homes LimitedThe most preferred and proactive real estate company in Africa offering exceptional products and services to our customers.

HMK’s investment activities in real estate are creating value as the occupancy is continuously increasing as a lasting asset in the Company’s balance sheet. And even more important, the new housing units create a value for the population helping them to have a better live.

Suru Homes Limited plans to develop luxury residential properties and low cost housing in choice locations in Nigeria as well as chains of function halls throughout Nigeria. The company has expanded its scope of operations by launching serviced apartments for letting.

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