Average hotel room rates in Lagos have climbed to a record N205,534, a sign of how quickly business and corporate travel is returning to Nigeria’s commercial capital, even as new hotel supply lags. The document noted that Lagos’ hospitality performance highlights how quickly demand has recovered relative to supply, particularly in prime business locations. “Average daily rates in Lagos are currently as high as they have ever been, supported by business and corporate travel and constrained supply following several years of delayed hotel deliveries,” the report stated. Broader economic backdropThe rebound in hotel rates comes amid improving macroeconomic conditions. Estate Intel said the outlook for Lagos’ hospitality market remains positive, with limited near-term supply expected to keep the sector balanced even as demand improves.

Source: Punch January 03, 2026 01:33 UTC