Lagos, Nigeria, witnessed a staggering revenue spike during the Detty December period, with hotels, clubs, and recreational activities collectively generating over N100 billion, a new report has said.
The report by MO Africa Company Limited highlights that Lagos hosted approximately 1.2 million tourists.
Among those hosted, 60% were local visitors, driven by insecurity in the South East and the presence of President Bola Ahmed Tinubu (PBAT) in Lagos, which attracted tourists from Abuja.
Revenue breakdown
Hotels & Short-lets
Hotel bookings contributed a whopping N54 billion ($36 million) from 15,000 confirmed stays. Eko Hotel topped the charts with N10.5 billion in revenue, while Albergo Hotel emerged as a promising new entrant.
- Food and beverage sales from hotel guests added N13.5 billion ($8 million) to the total.
Short-let apartments were another significant contributor, bringing in N21 billion ($13 million) from 5,937 bookings at an average daily rate of N120,000.
- Eko Atlantic had the highest residential bookings by value, while Banana Island led in estate bookings.
Nightlife & Clubs
The top 15 lounges and nightclubs generated N4.32 billion ($2.7 million), with daily sales averaging N360 million.
- Average table spend was N1.2 million.
Adult entertainment also thrived, with the top three strip clubs earning N2.5 billion over eight major nights. The Oniru club led in revenue from spraying dancers, while the Ikate club recorded the highest by volume.
Beaches & Resorts
- Beaches and resorts added N4.5 billion ($2.8 million) to the total, with Ilashe/Ibese and Elegushi beach houses leading the pack. The cost for booking a beach house at Ilashe could cost between N250,000-N5 million daily depending on preference. New players like Giwa Gardens and Lakowe Lakes also saw significant growth.
Event Centers & Car Rentals
- Event venues, including Eko Hotel & Suites and The Monarch Center, earned N1.2 billion ($804,000) from 1,175 bookings.
- Car rentals in the Eti-Osa area brought in N1.5 billion ($937,500) from 750 high-end bookings, with rates reaching up to N2 million per day.
Miscellaneous Activities
- Additional recreational activities, such as artist bookings, food and drink services, DJs, dancers, and boat rentals, contributed N20 billion ($13 million).
Between November 19 and December 26, Lagos’ Murtala Muhammed Airport processed approximately 550,000 inbound passengers, with 90% arriving for leisure. The top originating countries were the U.S., Canada, Italy, South Africa, and the U.K., with Lagos, Edo, Delta, Ondo, and Ogun states being top destinations.
This economic windfall shows Lagos’ role as Nigeria’s cultural and tourism hub during the festive season.
