Nigeria spends 300 billion naira a year on hotel accommodation — Essien



Nigerians traveling to Nigeria spend at least $ 2 billion, or about 320 billion naira each year on hotel accommodation.

Travelers at the arrivals wing of Murtala Muhammed II Ikeja Airport in Lagos.

The Founder / Managing Director of Nigeria’s Online Hotels Booking Limited,, Mr. Mark Essien revealed this when speaking to Avant-garde on the operations of the hotel reservation portal and the potential of online hotel reservation activities in Nigeria., an online hotel reservation site officially launched in January 2013, has over 4,000 hotels listed on its website and currently processes over 400 reservations per day.

“Hotel reservations or travel in general are still an important part of every economy. In Nigeria alone, hotel reservations are worth $ 2 billion a year. This means that every year, Nigerians traveling to Nigeria spend at least $ 2 billion, or about 300 billion naira on hotel accommodation. This is the result of a verifiable independent investigation carried out by Euro Monitor. So all we’re doing is facilitating this online transaction, so that some of that $ 2 billion is ours. I think we are sitting on a very high potential company, ”he said.

Mark noted, however, that despite the increase in Internet access, there is still much to be done to increase patronage of online businesses.

“Right now there are about ten to twelve billion Facebook users, out of the over 60 million internet users in the country, and the way I see it is that, if you look at the number of Facebook users and divide it by two, these are people who are knowledgeable Internet users, people who will use a service like ours. All of those 25 million others might have 3G access on their phones, but that doesn’t really mean they’ve figured out how to use the Internet.

“So besides having access which has been done very well in Nigeria, the next step is for people to realize what is the benefit of using the Internet. It is because a man may want a hotel; he was just phoning a friend to ask for a hotel without knowing he could open a browser and see all the results there. So there is an educational process that has to happen and when that happens we will see a huge explosion in the number of people using the internet for business services. “

He also denounced the payment challenge they face as a higher percentage of failed card payment attempts.

“There are a lot of payment challenges in Nigeria. Only thirty percent of card payment attempts work on our website. 70% of card payments currently fail, ”he said.

However, with eight different payment methods, the company has started working with other online payment processors to make payments easier by all other means.

He further noted that the vision of the company remains to build a strong and profitable Nigerian business that will expand to serve all of Africa.

“What we’re looking at now is a proof of concept. We are doing fine, we have built a good Nigerian business but I want us to expand to Africa. We are going to build a Nigerian company which will be the largest hotel reservation agency in Africa, ”he said.

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