Odu’a Investment Company Limited, owner of the popular Premier Hotel has shut down the relaxation service-providing establishment.
The company said this decision was taken in order to reposition the hotel and turn it into a five-star one, saying it has entered into a joint venture agreement to achieve that.
Mr Victor Ayetoro, Head of Branding and Communication, made this known in a statement on Wednesday in Ibadan, Oyo State.
Ayetoro said that the Premier Hotel would be shut down immediately in order to have a safe environment for the commencement, execution, and timely completion of the project.
He said the joint venture agreement was entered into with a competent international Hotel development and management company capable of revamping the old establishment.
Ayetoro said that the hotel redevelopment project would entail remodelling, renovating and upgrading the existing structure.
He said that it would also add new and modern facilities befitting of a five-star world-class hotel, adding that process would take place in phases.
According to him, the first phase will be completed within 24 months.
“The ‘New Premier Hotel’ when completed, will transit into additional upgraded rooms, equipped with international standard conferencing facilities, modern recreation and fitness centres, multiple restaurants serving African and Continental cuisines, among others,” he said.
