Assa Pyramid makes U-turn, says it never made N100m profit

The management of Assa Pyramid Hotel in Kaduna has made a U-turn over their claim of making N100 million profit in the past. The hotel said it had never made N100 million but could have if the business environment was friendly.  Daily Trust had last week reported how hotels were lacking patronage over Kaduna’s security-imposed […]

The management of Assa Pyramid Hotel in Kaduna has made a U-turn over their claim of making N100 million profit in the past. The hotel said it had never made N100 million but could have if the business environment was friendly. 

Daily Trust had last week reported how hotels were lacking patronage over Kaduna’s security-imposed shutdown following attacks on the railway and the international airport which led to their shut down. The Assistant General Manager of Assa Pyramid, Ibrahim Idris, was quoted in the report as saying, “When the market was rosy, we make over N100m in a month, but in the last three weeks, we are hardly able to make N2m.”

However, Idris in a statement clarifying the hotel’s position said: “My actual position was that if Asaa was to sell its rooms based on the actual room rate, not discounted, and there is improved security where travellers can come in from different parts, a reduced competitive environment, then, there will be nothing stopping Asaa Pyramid Hotel from making over N100m considering the size of the hotel.”

He said he did not mean that the hotel was actually making over N100m monthly in the past but that it could make the stated amount with the right conditions put in place. 

“Hotels of this nature and size that should make above N100m in the past when the business environment was healthy and friendly could not, talk less of now that the business environment is not healthy and friendly. They could just manage N2m at the moment,” he said.