Capital Hotel Plc, owners of Abuja Continental Hotel, has reported a revenue of N17.98bn for the 2024 financial year, representing a 128 per cent increase from the N7.89bn recorded in 2023.

This was disclosed by Non-Executive Director Abdulkadir Aminu, who presided over the company’s 44th Annual General Meeting held in Abuja on behalf of the Chairman, Ramesh Kansagra.

Aminu attributed the growth to strategic investments, cost management initiatives, and improvements in service delivery, noting that the company is now well-positioned for sustainable growth in the coming years.

Part of the investments, he said, include the hotel’s extensive renovations, the revitalisation of the Ladi Kwali Centre, and the addition of a new paddle court, all of which contributed to the company’s expanded revenue base.

“The company’s focus on delivering exceptional services and experiences has earned it a reputation as a top player in the hospitality industry. Its state-of-the-art facilities and exceptional service delivery have made it a preferred destination for meetups, incentives, conferences, and exhibition events,” Aminu said.

He added that the company’s strong financial performance demonstrates its resilience and adaptability in a dynamic market.

Kansagra, in a message to shareholders, said the company is optimistic about the 2025 outlook, with Nigeria’s projected GDP growth rate of 4.17 per cent and a decline in the fiscal deficit offering favourable conditions.

“The Board of Directors, management team, and staff have all played crucial roles in driving the company’s success. Our focus on delivering outstanding value to guests and stakeholders will continue to drive growth,” Kansagra said.

He assured shareholders that the company remains committed to excellence and customer satisfaction, positioning Capital Hotel Plc for continued success in Nigeria’s hospitality industry.