Ikeja Hotel Plc has reported a profit after tax of N4.85bn for the nine months ended September 30, 2025, marking a significant increase from the N2.0bn recorded in the same period last year. The result reflects the company’s improved operational efficiency, strategic cost management, and recovery in the hospitality sector following previous slowdowns in travel and business activities.
According to the financial statement released by the company, revenue grew by 47 per cent to N18.52bn, compared with N12.60bn generated in the corresponding period of 2024. Gross profit for the period also rose sharply to N9.02bn, showing the company’s ability to manage expenses effectively and sustain its growth momentum.
For the third quarter alone, Ikeja Hotel Plc recorded a profit of N1.73bn, representing a strong jump from N646m in Q3 2024. The company’s basic earnings per share also rose to 224 kobo, up from 93 kobo a year earlier, reflecting improved returns to shareholders.
The company’s balance sheet remained strong as total assets stood at N90.54bn, up from the previous year’s figures. Cash and cash equivalents amounted to N29.56bn, while loans to related parties totalled N34.07bn. Shareholders’ equity increased to N35.12bn, supported by retained earnings of N18.78bn.
Operating profit for the period reached N6.90bn, compared with N3.60bn last year, driven by improved income from hotel operations and rental services. The company earned N1.55bn as finance income, while finance costs were contained at N1.11bn, indicating prudent debt management and stronger liquidity control.
Management of Ikeja Hotel Plc attributed the performance to effective cost discipline, strategic capital investments, and increased patronage from corporate clients and leisure travellers. The hotel has continued to benefit from the rebound in Nigeria’s hospitality and tourism sectors, especially in Lagos, where business and conference activities have picked up steadily.
Industry watchers said the company’s strong financial performance is a reflection of broader growth in the Nigerian hospitality industry, which has experienced renewed investor confidence since the easing of post-pandemic disruptions. With inflation stabilising and foreign exchange access improving, more business travellers and tourists are returning to Lagos and other major cities.
Analysts also noted that Ikeja Hotel’s focus on customer experience, renovation of its facilities, and digital transformation in bookings and guest services have positioned it for sustained profitability. They added that its prudent use of financial resources and reinvestment of earnings are likely to boost long-term shareholder value.
In a related development, several listed hospitality and service companies on the Nigerian Exchange have reported stronger earnings for the third quarter of 2025, reflecting improved consumer spending and economic recovery. This trend, according to market analysts, shows that the hospitality sector is gradually regaining its pre-2020 growth pattern.
As part of its future outlook, Ikeja Hotel Plc stated that it remains focused on expanding its service quality and maintaining cost efficiency to navigate challenges such as high energy costs and exchange rate volatility. The company said it will continue to leverage technology and strategic partnerships to enhance customer satisfaction and strengthen its brand in Nigeria’s competitive hospitality landscape.
With the N4.85bn nine-month profit, the company has nearly doubled its performance from the previous year, setting a positive tone for its full-year 2025 financial results. Investors and stakeholders are expected to watch closely as the company maintains momentum through the last quarter of the year.
