Many a critic have opined that Lagos is over saturated with hotel rooms!.
My take, informed by reports from global bodies (e.g. WTTC) and established reliable researches which surmise that Nigeria has huge untapped potential in the direct contribution of travel and tourism to Gross Domestic Product (GDP), is that we are not there yet in terms of adequate rooms to meet the growing demands!.
Travel and Tourism would suffer debilitating setbacks in its GDP contribution improvement drive, if there is a dearth of accommodation and food services. Noteworthy, is the growing contribution of the accommodation and food services sector to the Nigerian GDP year over year in recent times. From N300bn++ in 2012 to N600bn++ in 2013, and about N800bn in 2014.
Great, right!. Then why the fret about ‘over supply of rooms’?!. A contextual and perceptual analysis would reveal that the real concern of critics in this field is the increasing value expectation synonymous with growing travel and tourism which unfortunately (in Nigeria) is bedevilled by dwindling value propositions and value delivery in the accommodation and food services sector.
We are not there yet in terms of our value offerings!. We are not there yet in terms of improving our value offerings!. We are not there yet in terms of enabling the development of essential value offering structures!!.
I know that at this juncture, you are eager for answers or my summations on the way forward!.
Below are my summations in a tabular form.
The value field table basically highlights the various critical levels of value offering (from the cradle / production to the elicitation of loyalty inducing clients satisfaction and the profitability impact on other stakeholders).
Each of the levels has key variables (the home, society, investor/ management company and the employee) impacting on its output.
So what do you think? We could compile a lot of ideas, process them and come up with a model to transform the Nigerian hospitality industry.
The days of waiting for the government to solve all our problems are long gone!!.
General Manager Ikoyi Club,
Lagos State, Nigeria.