Addressing the Misconceptions Surrounding the Proposed New 200-Bed Imo Mariot Hotel:
—5 Facts to Note
By Ambrose Nwaogwugwu, May 4, 2024
Since the news of the proposed 200-bed Imo Mariot Hotel broke, many people have expressed concerns, largely stemming from sincere misconceptions. Here are five facts about the proposed hotel project that should be noted:
1. The Imo State Government, led by Governor Hope Uzodimma, is not building a hotel. Instead, the government is an equity partner in the proposed hotel project, meaning it is not making any financial commitments to fund the construction.
2. Regardless of whether the Imo State Government invested in the equity of the proposed hotel or not, the developers would have still built the hotel. However, the state government recognized the potential of tourism as a lucrative venture and chose to partner in the project to share in its financial rewards for the benefit of the state’s people.
3. The proposed 200-bed Imo Mariot Hotel will be built by Hassan Allam Holding and Punz Limited, with financial backing from Afrexim Bank and Fidelity Bank Plc. The state government serves as an equity partner by retaining ownership of the land and using it to secure a stake in the project’s equity, ensuring continuous financial returns for the state.
4. Imo State is renowned as the tourist capital of the southeast. By embracing this initiative to develop the state’s tourist infrastructure, the government is making a deliberate effort to expand the hospitality industry, which will have a catalytic effect on the state’s economic fortunes.
5. Those who argue that the state government should have focused on reviving Concord Hotel are right, but should that have precluded the government from exploring other opportunities to expand the state’s hospitality base? While the government is already exploring ways to restore Concord Hotel to its former glory, this should not preclude the state from pursuing other opportunities that may arise.
