Rivers State Government
Concession for the Redevelopment of Olympia and Delta Hotels
Call for Expressions of Interest
The Rivers State Government (RVSG) intends to concession two hotels located in the Old Government Reservation Area (GRA) in Port Harcourt City. The RVSG is seeking to attract private sector investors to undertake the redevelopment and/or renovation of these Strategic Assets under a suitable Public Private Partnership (PPP) model, wherein a sector Investor will be selected to design, finance, red operate and maintain these assets for a period of time.
Olympia Hotel
The 100-room Olympia Hotel is located on Forces Avenue, immediately adjacent to the Port Harcourt Golf Club (it shares a boundary at the rear of the Hotel), and on the same road as the Braithwaite Memorial Hospital. It is in a quiet and serene environment that is well-suited for a hotel providing business, conference and leisure guests alike respite from the bustle of this emerging city. The RVSG intends for the Olympia Hotel to be managed by an international or regional hotel chain. The concessionaire will pay an upfront fee based on the redevelopment project cost, and then an ongoing annual rent.
Delta Hotel
The Delta Hotel is located on Harley Street, in the old GRA district of Port Harcourt. The property consists of two main buildings and six chalets, with 36 rooms and suites in total. It is close to landmarks such as the Government House, Port Harcourt Golf Club, the Braithwaite Memorial Hospital and the regional Central Bank building. The RVSG intends for the Delta Hotel to be managed by an experienced international or national hotel operator. The concessionaire will pay an upfront fee based on the redevelopment project cost, and then an ongoing annual rent.
Interested Investors meeting the following criteria are invited to submit Expression of Interest:
International Hotel Group with presence in at least three countries having experience in the running of at least ten hotels with rating of three star or above, which are operational outside Nigeria.
OR
Nigerian Hotel Chain with presence in at least three States
OR
Private Equity Group having assets under management of N15bn minimum as at 31st December, 2011 However, such bidder(s) will be required to be in partnership with an international/national hotel chain operating hotels of three starts or above.
Eligible entities are requested to send their EOI’s on or before 21st April 2012 to:
Alpha A Barry
Akintola Williams Deloitte
235 Ikorodu Road
Ilupeju, Lagos
Email address: abarry@deloitte.com
The EIO should contain the following information:
Names of entity that will be bidding for the asset(s)
Background information on board and senior management of the entity
Asset(s) interested in
Three year audited financial statements
Letter from hotel chain agreeing to be part of the consortium
Tax clearance certificate (where appropriate)
Please discharge all previous publications on this subject matter.
