We Left Ibom Hotel As A Profitable Venture – Efa

I usually do not like to comment on matters that have to do with Ibom Hotel since handing over the hotel on 2nd October 2020 to the new management. I have not even stepped my feet in that hotel since moving out of that place. But for this damaging and uncharitable allegation made by Mr Udeme Ufot which touched the management of which I was part off and the need to put the records straight. I have shared my comments.

We did not leave a debt of N1Billion to ICON but we left a profitable and fully revived hotel to the current management having grown revenue from an average of N120 Million Monthly to N230 Million Monthly. I challenge the current management to publish the hotel revenue from May to Sept 2020 to dispute this fact.

To hear that the person of Mr. Udeme Ufot, a man I respect so much and see as a mentor to all of us Akwa Ibom young professionals in Lagos to allegedly  mention that the current management of the hotel inherited and paid a debt of N1Billion.  Mr, Udeme Ufot I know cannot present such falsehood and misleading information for public consumption.

I will suggest the writer meets with the real Mr Udeme Ufot for accurate information which I know is available to him as the Chairman of the hotel board. This is simple accounting. If the hotel paid a debt of N1Billion Naira left by the former management and also made a monthly remittance to Government which amounted to a Billion Naira within a period of 1 year, how much is the total annual turnover of the hotel?

When we took over the management of the hotel, we paid a debt of over N300m and nobody heard about it because this is normal in Business.

We handed over a thriving business as at October 2, 2020 with a positive net current asset. Opinions may differ but fact is just one. For the alleged Mr. Udeme Ufot to say   that the place was run down as at the time of takeover by the current management is again hard to believe it is coming from him. I challenge anyone to make public verifiable evidence of list of beneficiaries of such payments for verification or make available to the reporter the handover report and folder we gave to the new management.

To put the records straight, we handed over an outstanding payment which was due as at the time of our departure, the sum of N129, 897,514 which is normal on the ordinary course of business but we also left enough money, more than double to clear that outstanding

As at the cut-off-date, total revenue for the Month of September was N223, 687,744.04 while the sum of N223, 736,456 cash was due to be received by the hotel from checked out guests by Mid October 2020.

Without a doubt, the aforementioned was enough to clear every payment that was due to be paid.

When we took over management in January 2018 at a time when the infrastructure was completely degraded with wide spread rumours of an eminent collapse of the business. We took up the challenge and our vision as indigenous management of the hotel was to ensure the efficient running of the hotel to return it to profitability after more than 6 Years of posting losses.

We were able to grow the hotel market share of industry MICE business segments. During our time,  the hotel  won several awards including but not limited to   the Jumia Award as Best Leisure Hotel in Nigeria, Africa’s Leading Hospitality Brand of the Year 2019, Africa Best World Class Quality Hotel Brand of the year 2019, Business Day – Tourism and Hospitality Brand of the Year Award 2019 and Best Sport Resort in West Africa.

These numerous awards had caused the hotel to witness an upsurge in the demand for its room, conferences and meeting facilities of which the current management still enjoys.

As a result, we hosted very high profile groups/ companies including but not limited to Inter Agency Nigeria, PEAL & ARC, African Development Bank, Nigerian Bottling Company,  NEITI, ECOWAS Commission, ExxonMobil , Federal Ministry of Justice, US Pharmacopia etc, USAID, Oriflame Nigeria, Nigerian Army Finance Corp, NSITF etc contributing over 20,000 room nights since 2018.

We made the following improvements/ Achievements to the facility with funds generated from the hotel:

• 22 percent reduction in Utility Cost saving 100M Yearly in energy cost
• Total turnaround of moribund 120kg dryer in the laundry
• Replacement of flat ironer belt in the laundry
• Renovation of the entire chalet area of the hotel that was hitherto not useable
• Purchase and installation of Water circulation pump
• Purchase and installation of 15hp swimming pool pumps
• Purchase and installation of 2[nos] hot water pump
• Construction of Remedial Borehole with water treatment plant
• Replacement and installation of all drive way lighting
• Installation of 7.5kva dry external breaker for 33KVA transformer
• Complete face-lift of all public area.

The HR department was able to reduce staff food cost from N7M to N2.132M as at the period she took over the department.

Talk is cheap. I challenge the alleged Mr. Udeme Ufot to outline the achievement of the current management so we can place it side by side with the achievements of our management.

I have built a reputation of excellence over the Years and will not watch anybody ruin it.

By Brian Efa , former Acting Managing Director, Ibom Hotel & Golf Resort, now [Ibom Icon Hotel Golf Resort] Uyo, Akwa Ibom State, Nigeria.