Concessionaire assures on delivering Hotel Presidential Enugu

E-Hospitality Services Limited (EHSL), concessionaire handling the restoration of Hotel Presidential Enugu, has assured on the completion and delivery of the hotel once regarded as the jewel of the Eastern Nigeria.

According to Justin Chuma Anosike, vice chairman/CEO, E-Hospitality Services Limited, the company has since mobilized to site and achieved some milestones including: regularisation of statutory documents of Hotel Presidential Limited, conduct of feasibility and business studies, engagement of world class professional consultants, conduct of hydrological and top graphical surveys, and conduct of structural integrity test on building. Others are; conduct of environmental impact assessment, complete strip out of pipes, wires, among others in the entire building, and complete water proofing and refurbishment of roof.

Anosike, further noted that Primeview Hotels Ltd, a special purpose vehicle incorporated to facilitate the transaction and concessionary agreement between EHSL and Enugu State Government, is poised to embark on the next phase of its work plan and is currently engaging with the state government to resolve a number of unforeseen issues which have arisen. Sometime last year, Primeview Hotels Ltd became aware of a lawsuit filed by a party which allegedly had a previous interest in Hotel Presidential. The said party issuing Enugu State Government, among others, for alleged wrongful termination of a Lease Agreement in which the State Government purportedly granted it a Lease hold interest in Hotel Presidential. Prime view has been joined as a Defendant in the suit and our lawyers are currently handling the matter. Discussions are ongoing with the State Government and other relevant stakeholders with a view to resolving the issues thrown up by the lawsuit.

“We have also learnt that some internal process issues have been raised regarding our project and discussions to resolve them are also ongoing. We have received firm assurances from the Enugu State Government that these issues would be favourably resolved and pose no threat to the sanctity of our transaction. The company has expended substantial resources on the project thus far and we remain fully committed to delivering a world-class hotel facility in Enugu and look forward to working with the state government as a partner in achieving this objective”, Anosike said.

It would be recalled that following extensive negotiations, a Joint Venture Agreement was executed in 2013 between Hotel Presidential Ltd (owned by Enugu State Government) and E-Hospitality Services Ltd for the renovation and management of Hotel Presidential Enugu. Pursuant to the said agreement, a special purpose vehicle, Primeview Hotels Ltd was incorporated to facilitate the transaction. As per the Joint Venture Agreement, 80 percent of the equity stake in Primeview was allotted to E-Hospitality Services while 20 percent was allotted to Hotel Presidential Limited. Primeview was to fund the renovation and thereafter manage the Hotel for a 35-year period. The title of the property has been duly vested in Prime View Hotels Ltd for the duration of the concession period.

OBINNA EMELIKE