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AbdulAzeez, A D, Etubi, U and Umar, B (2019) An assessment of multi-skilling in addressing skills shortage in Nigerian construction firms. African Journal of Built Environment Research, 3(1), 1-13.
Abubakar, M, Zailani, B M, Abdullahi, M and Dodo, M (2021) Skills and competencies for survival in the modern construction industry: students' perspective in Nigeria. African Journal of Built Environment Research, 5(1), 61-76.
Adzande, P, Gyuse, T T and Atser, J (2018) Correlates of crime in urban Makurdi, Nigeria. African Journal of Built Environment Research, 2(1), 21-40.
AlShamisi, H A, Chinyio, E, Ankrah, N, Kpamma, Z E, Mushatat, S, Oloke, D and Wilson, P (2019) Prevalence of leadership and management features amongst construction project managers in the UAE. African Journal of Built Environment Research, 3(1), 41-55.
Amaka-Otchere, A B K (2016) Energy access and rural development in Ghana: prospects for decentralised energy and appropriate technology options. African Journal of Built Environment Research, 1(1), 29-58.
Anosike, N M, Enenmoh, C R, Nkeleme, E and Mosaku, T O (2016) Comparative analysis of contributions of building and quantity surveying professions towards the development of sustainable construction industry in Nigeria. African Journal of Built Environment Research, 1(1), 1-14.
Asigri, E O, Afram, S O and Ameyaw, C (2021) Fire safety design attributes of students' housing facilities in KNUST Ghana. African Journal of Built Environment Research, 5(1), 41-58.
Bello, N A, Agava, Y H and Olanrele, O O (2021) Investment property typology analysis; evidence from Nigerian urban property returns and macroeconomic variables. African Journal of Built Environment Research, 5(1), 77-96.
Bello, N U, Jolaoso, A B and Olanrele, O O (2018) Comparative analysis of investment attributes of hotel and commercial property in South-Western Nigeria. African Journal of Built Environment Research, 2(1), 1-20.
- Type: Journal Article
- Keywords: commercial real estate; hospitality; hotel; investment; Nigeria; occupancy rate; questionnaire survey
- ISBN/ISSN:
- URL: http://waberjournal.com/wp-content/uploads/2018/07/Comparative-Analysis-of-Investment-Attributes-of-Hotel-and-Commercial-Property-in-South-Western-Nigeria.pdf
- Abstract:
Investment in real estate extends beyond property use on annual tenancy or short leases basis, but also includes the provision of accommodation with varied renting patterns such as short let and time share. Generally, hospitality industry comprises of commercial and non-commercial activities and services; it is an investment that is housed in a real estate asset that renders services in trade form. Technically, hotel investment is one of the breeds of real estate investment, but practically considered more as a part of the breed of pure business investment. This empirical work therefore highlighted and compared the attributes of hotel investment and commercial property investment measuring their performance through occupancy rate analysis. From a sample of 177 commercial properties and 70 hotel properties in the central business districts of Ikeja, Abeokuta, Ibadan, Osogbo, Akure and Ado-Ekiti; adopting a questionnaire survey on investment managers of these two property investment options. The research findings revealed that commercial and hotel properties have similarity in 4 of the qualitative variables and different in the remaining 8 variables. The study further revealed no significant difference in the occupancy rate of commercial property (0.89) and the hotel property (0.80) as reflected by the Kolmogorov Smirnof (K/S) two sample tests. Although this seemed to be the first comparative study of direct commercial property and direct hotel property investment attributes in Nigeria, it is concluded that hotel property could be a more attractive and better investment as revealed by the short-term advance payment attribute and its dynamic response to economic situation than the commercial property. It is recommended that subsequent study should extend to investment characteristics through trend analysis of return on these investments.
Chiwuzie, A, Dabara, D I, Omotehinshe, O J, Prince, E M and Aiyepada, E G (2021) Changing macroeconomic indicators and the rental values of residential properties in Ede Nigeria. African Journal of Built Environment Research, 5(1), 1-18.
Chiwuzie, A, Dabara, D I, Prince, E M, Ajiboye, B O and Olawuyi, S T (2020) Housing-related attributes and the changing structure of preferences. African Journal of Built Environment Research, 4(1), 37-58.
Ekung, S, Okonkwo, C and Nwosu, E (2021) Claims culture and client-contractors' willingness to engage in future projects: a multivariate analysis. African Journal of Built Environment Research, 5(1), 19-40.
Ezeokoli, N B, Komolafe, T B and Olukolajo, M A (2019) Macroeconomic fluctuations and event centres' return dynamics in Akure commercial property market, Nigeria. African Journal of Built Environment Research, 3(1), 29-40.
Gasu, M B (2020) Residents' satisfaction with the use of green infrastructure in Osogbo, Osun State, Nigeria. African Journal of Built Environment Research, 4(1), 1-19.
Ibrahim, A G, Garba, M M, Okoli, O G, Zubairu, I K, Dahiru, D and Usman, J (2020) Properties of reactive powder concrete produced with unrefined metakaolin and gear inner wire. African Journal of Built Environment Research, 4(1), 81-95.
Ijaola, I A and Idoro, G I (2020) Modelling the relationship between task characteristics and training of site supervisors in Nigerian construction firms. African Journal of Built Environment Research, 4(1), 59-80.
Inuwa, I I (2018) Unethical professional practices in tendering of public building procurement in Bauchi Metropolis, Nigeria. African Journal of Built Environment Research, 2(1), 55-73.
Kwaghsende, F K (2020) Assessment of social networks in informal solid waste recycling activities and sustainable solid waste management, North Central Nigeria. African Journal of Built Environment Research, 4(1), 21-35.
Oladokun, T T (2016) Effects of climate change on commercial properties in Lagos State, Nigeria. African Journal of Built Environment Research, 1(1), 15-27.
Olatunji, A, Adama, U, Adoga, A, Ojetunde, I, Adewale, S and Nwuba, C C (2020) Valuing an underperforming agricultural entity in Minna, Nigeria as a specialised property. African Journal of Built Environment Research, 4(1), 97-115.
Olukolajo, M A, Ogungbenro, M T and Adewusi, A O (2018) Tenants' characteristics and rent default tendencies in Akure residential property market. African Journal of Built Environment Research, 2(1), 41-54.
Tunji-Olayeni, P F, Mosaku, T O, Fagbenle, O I and Amusan, L M (2016) Project management competencies of indigenous contractors in Nigeria. African Journal of Built Environment Research, 1(1), 49-58.
Zailani, M B, Abubakar, M and Muhammad, A (2019) Assessment of barriers to Risk Management implementation in small construction projects in Nigeria. African Journal of Built Environment Research, 3(1), 15-28.