The Lagos State Government has issued a notice of revocation of occupancy to one of Nigeria’s foremost hospitality brands, Sheraton Hotel in Ikeja.
The company did not immediately explain the reason for the revocation but said it had challenged it in court. An email seeking clarification from Ikeja Hotels was not immediately returned Friday morning.
The management also warned that the seizure could deplete the company’s asset by N4.63 billion unless it is reversed.
The November 3 internal memo circulated on social media Friday morning. The company also said in the letter that it lost N1.4 billion after tax in the third quarter of 2020 due to the coronavirus.
It was unclear the nature of the dispute between the Nigerian hospitality giant and Lagos government. A Lagos government spokesman did not answer calls and text messages seeking comments Monday morning.
However, Sheraton Hotel has debunked the news making the rounds saying that the land on which the property is situated has not been revoked.
It said: “RE: LAGOS SHERATON LAND NOT REVOKED
“It has come to our notice that our statement to the Nigeria Stock Exchange in our bid to provide the market with full information on the developments in our Group was misconstrued and misinterpreted by some sections of the Press.
“Please note that our Press Release on November 3, 2020 to the Exchange is to disclose that the land in Opebi Gorge belonging to Charles Hampton Limited which is a subsidiary of Ikeja Hotel Plc, is the land in question. The Notice of Revocation from the Lagos State Government on the said land in Opebi Gorge has nothing to do with Sheraton Lagos Hotel nor the land on which the Hotel is situated. Please be guided accordingly.