Ikeja Hotel Plc Reports N8.19 Billion Profit in 2026

Ikeja Hotel Plc has announced a pre-tax profit of N8.19 billion for the nine months ending September 30, 2026, marking a 15.10% increase from N7.12 billion in the same period of 2025. The hospitality group's revenue for the nine months rose by 4.84% to N19.41 billion, compared to N18.52 billion in the previous year.

Profit after tax also saw a rise of 14.22%, reaching N5.31 billion from N4.65 billion. However, in the third quarter of 2026, pre-tax profit declined by 14.52% to N2.08 billion from N2.44 billion in Q3 2025.

The increase in pre-tax profit was attributed to higher finance income and the absence of investment-related losses from the previous year, despite rising operating expenses. The Rooms and Food & Beverage segments accounted for 94.66% of total revenue.

Administrative expenses surged by 36.09% to N2.15 billion, while tax expenses rose to N2.89 billion. Total assets increased to N80.96 billion as of September 2026, driven by cash accumulation and capital investment.