Ikeja Hotel Plc

ABOUT

Ikeja Hotel Plc was established in 1972 as Properties Development Limited (PDL) and rebranded to Ikeja Hotel Limited in October 1980, it became a public liability company in 1983 and assumed its present name Ikeja Hotel Plc on the 5th of September 1991. The company was listed on the Nigeria Stock Exchange in 2007.

Ikeja Hotel Plc owns the Sheraton Lagos Hotel, Mobolaji Bank-Anthony Way, Ikeja. Lagos and Core shareholder in the Tourist Company of Nigeria Plc, Owners of the Federal Palace Hotel and Casino, Victoria Island Lagos.

Despite overcoming a turbulent ownership crisis between 2014–2017, including a regulatory suspension of its securities due to internal Board disputes, Ikeja Hotel’s leadership undertook a forensic audit and corporate governance reforms in May 2018.

Financially, the company rebounded impressively, delivering ₦18.75 billion in 2024 revenue growth of 68.8% over the prior year and ₦20.97 billion in trailing twelve‑month revenues as of March 2025 with a market capitalization of roughly ₦47.8 billion.

With just 228 employees as of December 2024, Ikeja Hotel Plc continues to redefine hospitality in Nigeria—leveraging its legacy assets and global brand affiliations to offer guests state of the earth lodging, conferencing, dining, leisure, and oil & gas catering services across its portfolio.

leadership

Theophilus Eniola Netufo

CEO

Theophilus Eniola Netufo is a seasoned Business Administrator with relevant experience spanning three decades. He obtained a Higher National Diploma with Upper Credit in Business Administration and Management from the Federal Polytechnic Akure, then Ado-Ekiti in 1985. He qualified as a Chartered Accountant in May 1991 and was elected a Fellow of the Institute on March 29, 2001. He is a Certified Forensic Accountant and Fraud Examiner, and a Fellow of the International Institute of Certified Forensic Accountants.

Theophilus Netufo is also a Fellow of the Chartered Institute of Taxation. Member, Nigeria Institute of Management and an active member of the Institute of Directors (IoD) having satisfactorily completed courses 1 and 2 of the Institute in 2016 and participated in The Independent Directors’ Masterclass Program on August 23, 2018. He is a Member, Faculty of Insolvency and Corporate Re-Engineering of the Institute of Chartered Accountants of Nigeria.

He has put in several years of meritorious services in Professional Practice, in Multinational and Hospitality organizations. He served previously in senior management positions with Coca-Cola Nigeria, (African Division) where he handled financial services responsibilities for Africa, the Middle East, and Europe. He regularly participated in Management/Financial Development Courses, Programmes, and Conferences both in Nigeria and abroad.

Dr. Netufo holds Honorary Doctorate Degree (Honoris Causa) in Strategic Leadership at the African Leadership Business School where he is also a Member, Faculty and Advisory Board.

He is currently the Group Managing Director, Ikeja Hotel Plc, Owners of Sheraton Lagos Hotel, Ikeja and a Director of The Tourist Company of Nigeria Plc, Owners of Federal Palace Hotel & Casino, Victoria Island, Lagos.

management

ABOUT

key figures and milestones

leadership

management