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Are you looking to download a hotel business feasibility study with financial analysis in Nigeria?

Download this hotel business feasibility study template in Nigeria to secure a loan for NIRSAL, BOA, BOI, grant or make future forecast figures.



Nigeria is a country with a growing economy and a thriving tourism industry. With the increasing number of tourists visiting the country, the demand for quality hotels has also been on the rise. Building a 20-room hotel in Nigeria can be a profitable investment, but it is essential to understand the costs involved in such a project.

Factors Affecting the Cost of Building a 20-Room Hotel in Nigeria

The cost of building a 20-room hotel in Nigeria can be influenced by several factors. Some of the most significant factors that can affect the cost of construction include:

  1. Location – The location of the hotel is a significant determinant of the cost of building a 20-room hotel in Nigeria. The cost of acquiring land, building permits, and other regulatory fees vary from state to state in Nigeria. Building in urban areas such as Lagos, Abuja, or Port Harcourt will be more expensive than building in rural areas.
  2. Type of Construction Materials – The type of materials used for construction can significantly affect the cost of building a 20-room hotel in Nigeria. Using high-quality materials such as marble, granite, and high-end fixtures and fittings will increase the cost of construction.
  3. Level of Luxury – The level of luxury and amenities provided in the hotel will also have an impact on the cost of construction. A 20-room hotel with basic amenities will be less expensive than one with premium features such as a swimming pool, spa, and conference rooms.
  4. Labor Costs – Labor costs, including wages and salaries for construction workers, engineers, and architects, can significantly impact the cost of building a 20-room hotel in Nigeria.

Estimated Cost of Building a 20-Room Hotel in Nigeria

Based on current construction costs in Nigeria, the estimated cost of building a 20-room hotel with an average room size of 25 square meters is between ₦30 million to ₦50 million for construction alone. This estimate includes costs such as building materials, labor costs, permits, and design fees.

However, this cost estimate does not include other expenses such as land acquisition, furnishing, and equipment installation. These costs can significantly increase the total cost of the project.


Building a 20-room hotel in Nigeria can be a profitable investment, but it requires careful planning and consideration of various factors. The cost of building a 20-room hotel in Nigeria can be influenced by location, type of construction materials, level of luxury, and labor costs. It is essential to consult with a professional builder or contractor for a more accurate estimate based on the specific needs and requirements of the project.


1.0 Introduction

In the heart of Ogun State, Sherifty Hotel is a beautiful imitation of heaven. The stately structure offers its visitors the feeling of being at home away from home. The hotel was built to suit every requirement of its visitors, and it is well equipped with every necessary and pleasure that could be desired. With its world-class restaurant, artsy lounge and bar, glittering arena, and huge parking, we provide each guest with a personalized experience that entices them to return.

Our interior design incorporates both modern and traditional architecture, which not only adds beauty to the hotel but also provides a reminder of African culture. We will be extending our services to accommodate recreation and event activities, spa, and so much more, as we are located in the heart of Ogun State. Our objective is to make Sherifty Hotel a distinctive location of comfort for each of our guests. Through social media and the internet, we are increasing our reach and visibility.

We want to be on the short list of people who have yet to discover us. Our visibility would aid in increasing occupancy and profitability.

2.0. Executive Summary 

We want to be the sole choice for individuals in Ogun State and its surrounding areas when it comes to relaxing, refueling, and enjoyment. We are also broadening our target audience to include people or families seeking for fun places to visit – honeymoon, vacation, reunion, and so on. Visitors and visitors are also among the people we hope to reach.

We have included musicians, bands, and comedians in our service to keep our guests, especially weekend visitors, entertained at all times. We anticipate a 65% increase in income with the addition of our laundry and vehicle wash services.

Our restaurant’s sales have increased since we are the only hotel in the 85km region that provides foreign cuisine. We have seen a 45% rise without using any type of advertising. Tourism has increased, which has boosted our numbers. Our audience is divided into three categories: locals, tourists and travelers, and drop-in consumers.

3.0. Company Description

We are present on every major hotel booking site in Nigeria. Sherifty Hotel satisfies our clients’ requirements and demands for:

A suitable and comfortable hotel that provides global dishes to tourists. Excellent welcoming experience. Seasoned team to match our customers’ wants.

With over 30 years of expertise in the tourism and hospitality industries, it is important to highlight that delivering a fantastic and personal hotel experience for the people of Ogun State and its surrounding cities is critical. The fact that we as a state are falling behind in tourism and hospitality practices, as well as not maximizing tourism, inspired me to establish my own firm in the area.

My experience taught me how to interact with clients and inspire employees to give better services. It has also assisted me in developing excellent client relationships, which have resulted in recommendations and repeat sales. My job experience provided me with valuable abilities for hospitality techniques. It has made it easier for me to identify and capitalize on opportunities. It has strengthened my resilience and boosted my desire to always give work for others.

4.0 Objectives and Objectives:


 To have a constant increase in the number of patronage monthly

 To ensure the hotel is 90% occupied monthly

 To always hire efficient and experienced staff

 To have a 10% increase in client acquisition yearly

 To leverage on the use of the internet and social media for visibility and reach

 To increase off-season occupancy by incentivizing people and increasing activities on social media

To be the first choice hotel in any location we are in Nigeria. This we would achieve by providing exceptional services and unforgettable comfort.

5.0: Mission and Vision Statement

To be the gold standard of Hospitalism in Nigeria

To surpass our customer’s expectations uniquely by providing great services, spectacular products and incomparable customer services endearingly.


Mr Alade James has over 30 years experience in the Tourism and Hospitality Industry. He is a well- vast consultant and project manager. He will manage daily activities in the hotel.

Mr Jide Olowolabakokoyaki has over 10 years in business management (start-up or existing), financial management and every aspect of the business. He is an alumnus of Lagos Business School and Noun University. He is our business strategist.
Together, they have:

 Extensive knowledge of business management

 Practical knowledge of customer acquisition and retention

 Proficiency and Credibility

 Diverse skills which include; marketing, operational among others

Mr Aboyeji has over 35 years in the Tourism and Hospitality business. He is a Savant who possesses technical, HR, and Management knowledge about the industry. He is a great team player who knows how to spot talent. This has helped him build a team and manage it for over 8 years. He is the CEO of Sherifty Hotel.

We have materials and equipment that facilitate the premium service and products we offer our clientele. They include Pure water source, power source,

We are constantly patronized because we provide:

 Great services

 Exceptional facilities alongside a constant power supply

 Excellent customer service

 Good incentives We, however, stand a better chance than our competitors because we are:
i. Located in a secure environment with a great road network

ii. Provide intercontinental dishes in grand style


How To Download The Feasibility Study Hotel Template PDF and Doc (with financial analysis)

Above is a part of the Hotel business plan template in Nigeria. In case you need the complete business plan, follow the procedures to download it.

Pay the sum of N8000 (Eight thousand naira only)  to the account detail below:
Bank: GTBank
Name: Oyewole Abidemi (I am putting my name and not our company account so you know we are real people and you can trust us)
Ac/No: 0238933625
Type: Saving

Thereafter, send us your email address through text message to +234 701 754 2853The text must contain the title of the business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the feasibility study hotel business in Nigeria to your email address where you can easily download it.

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