BACKGROUND INFORMATION
Central Hotel, Kano was opened in 1927 as a colonial hotel owned by the Railways. Over the years the hotel facilities fell below standards due to lack of maintenance which had mostly fallen into disrepair due to age and lack of care and attention. The hotel had over the years became inadequate for travelers need and could not meet both national and international standards. Following two earlier attempts, Broadfields Intermediaries Limited on 10th January 2005 eventually emerged the winner of a successful bid process and offered the sum of N605m for the 100% shares of the Hotel.
Name of Enterprise
Central Hotel (Now Grand Central Hotel)
Name of Investor
Broadfields Intermediaries Limited
Reform Strategy
Core Investor Sale
Date of Transaction
2005
Cost of Transaction
N605m
Status
Operational
