Ikogosi Warm Springs Resort and Conference Centre has recorded significant financial growth following sustained investments in infrastructure and guest experience, with revenue increasing by 157 per cent in 2024 and first-quarter earnings in 2025 more than doubling compared to the corresponding period of the previous year.
Speaking during a media briefing at the resort in Ekiti State, the General Manager of Glocient Hospitality, Olanrewaju Balogun, attributed the impressive performance to strategic reinvestment of profits into the facility rather than short-term spending.
According to Balogun, the resort’s financial results demonstrate the importance of continuous investment in hospitality assets, particularly in areas such as energy infrastructure and facility upgrades.
“If you don’t invest in comfort, you can’t bring anybody to a place like this,” he said. “Within the shortest time, we have more than doubled our revenue. In fact, in 2024, our growth was about 157 per cent.”
He added that the momentum has continued into 2025, noting that the resort’s first-quarter performance was more than twice what was recorded during the same period a year earlier.
“Year-on-year, 2025 and 2026, we have more than doubled the first quarter. That is growth. By the end of the year, it will grow further. We are getting to the sustainability level,” Balogun stated.
The hospitality executive explained that profits generated by the resort are being ploughed back into the business to drive long-term growth and profitability. He cited investments in a solar power system and other infrastructure projects as examples of the resort’s reinvestment strategy.
“When we make money, we are reinvesting it in the business. The investment that we have made is what we used to build the solar system. The structures that you are seeing are part of the investments we are making,” he said.
Balogun emphasized that sustainable growth in the hospitality industry depends on effective management and consistent investment, especially in prime tourism destinations.
He noted that Glocient Hospitality’s business model focuses on transforming underperforming hospitality assets through strategic management and capital investment, with the objective of achieving long-term sustainability and profitability.
“We are very deliberate and intentional. Every step that we take is a step forward in achieving sustainability and profitability,” he said.
The resort, renowned for its unique warm and cold springs, has in recent years undergone significant upgrades aimed at attracting more tourists, conference organisers and leisure travellers, contributing to its strong revenue growth trajectory.
