NICON Group may have finally taken over Le Meridian Hotel which it acquired on November 17, 2006 after it paid $50 million for 90 per cent equity in the prime hotel. Indications emerged that the hotel might assume a new name NICON Hotel reflecting the new ownership as both companies are believed to have reached an agreement on that.

The Group Managing Director, NICON Group, Mr Jimoh Ibrahim said that this was in line with the company’s plan to build a local brand known as NICON Hotel.

He added that the hotel, in line with its corporate social responsibility policy has concluded plans to offer 75 per cent discount to legislators who were hit by accommodation problem for the first 90 days in Abuja to enable them settle down.

Instead of N39, 000 per night, the legislators who wanted the accommodation could pay N9, 999, Mr Ibrahim stated.

He had at an interactive session with journalists in Abuja recently disclosed that the company would be investing 10m Euros in developing the hotel to its full capacity to accommodate about 600 guests.
This will involve renovating five of the 12 floors of the hotel, which currently are not able to take guests because they are not yet furnished.

In spite of this development, said Ibrahim, the Le Meridian Group would be present for the next six months to guide the period of transition and the re-branding.