Late Hotelier, FRANCIS AIYEGBENI’s Family React To The Sale Of D’ROVANS Hotel Story

•Says: “We Are Still Negotiating (EDNA AIYEGBENI)

•”It Is Not An Outright Purchase (EDGE MANAGEMENT)

Recall that in our last week edition we did a story on the sale of Ibadan’s popular hotel, D’Rovans. In the story, we wrote that the hotel has been sold and gave exclusive details of the said deal, as it was revealed to us by a source. It was also written in the report, according to what we gathered, that the hotel must have been bought by the Eruwa-born businessman cum politician, Mr Bayo Adewusi, through a proxy. Emphases were also laid to the issue between former management of the hotel and the Asset Management Corporation of Nigeria (AMCON), which eventually led to the shutting down of the hotel by the commission. And the fact that Aiyegbeni family, as we scooped, must have decided to sell the hotel in order to be able to pay off the accrued debt and at the same time sort out other family issues.

The family of the late hotelier, Chief Francis Aiyegbeni and the new management of the hotel, in their separate responses, have, however, frowned at the said report, saying, that there were many wrong information in the report. They exlainedThat the hotel was not totally sold, but one part of it while the other part has been put on lease for 20 years as well as details of the new deal and how they plan to put the hotel back on track and all that.

In chat with this reporter, Mr Sikiru Akinniran, who introduced himself as MD/CEO of the Edge Executive Limited, a management and consulting firm which is also into rehabilitation and management of moribund hotels and companies, said his company had an agreement with the owner of D’Rovans Hotel, which has to do with lease and management takeover.

According to him, “At Edge Executive Nigeria Limited, we are a management and consultancy company. We are also into rehabilitation and management of moribund hotels and companies. We equally do the same in the area of maintainance as well. We have an arrangement with the owner of D’Rovans Hotel, in form of lease and management takeover, and the arrangement is such that, there will be part purchase and lease on the other part for a period of 20 years. And part of the plan, having realised that the hotel is the biggest in South West, apart from Lagos, is to make it the best, not just the biggest.

That is why we have come with a bang, to give it a total facelift. We equally plan to have, instead of the normal one club and lounge that most the hotels do have, 3 clubs. And one will basically be for the high class, the crème de la crème in the society while the other ones will be for general. We also plan to bring back some of these things that were no more existing in the entertainment industry in Ibadan. Since the ’90s, we have not seen a hotel where games are being played like D’Rovans, we are bringing that back. The plan is also to bring the real services, which the hospitality industry is known for, back to life. And that is why we are taking our time, to really give it the desired facelift and we are set to have expatriates to execute most of these things, so that people can have value for their money.

Again, contrary to what has been written in the news some days ago, that the hotel was purchased by an Eruwa-born businessman cum politician, Mr. Bayo Adewusi. That is not correct, it is Edge Executive that actually took over management of the hotel and I am the Managng Director of the hotel. We have started the renovation and we want to change it completely from what it is presently, to have another face. God willing, by July ending, we will be able to call the whole world for an official re-opening. There is going to be a little bit change in the name too, from Wallan to “De Rovans Hotel Limited”. We are going to reconstruct the hotel.

You know the hotel is in three phases; the first is where you have the hall and some rooms at the back, with 42 rooms. That is the part we have agreed to purchase outrightly. All other ones including another hall will be on lease for a period of 20 years,” he said. Akinniran also went further to address the issue between AMCON and Aiyegbeni family, pertaining to the debt and how the whole thing has been amicably settled. “On the issue of AMCON, what actually happened is that the house that was used as collateral for the loan facility has been sold and the balance is what my company is expected to take over as part of the liabilities and we have been sorting that on a monthly basis, as agreed by AMCON. And that is why the hotel has since been reopened”.

Corroborating Mr Akinniran’s stand, one of the children of late Aiyegbeni who called from London, Ms. Edna Bola Aiyegbeni said, “what purchase means is that money has not exchanged hands, at the moment, the deal is still in process, that is the back of the hotel. We are still negotiating, we have not reached a conclusion. There is a plan to sell back of the hotel, because the hotel is actually big, it may be difficult for management and everything. They have agreed to it on papers, but money has not really exchanged hands. So to write about it that it is being sold will be a wrong information”.

When asked about what transpired between  the family and AMCON, Ms. Edna Bola Aiyegbeni has this to say, “I would say, because you asked about the amount that was taken, what happened  with AMCON and the family is a very ridiculous thing and it is due to the family’s carelessness or maybe my dad not handling over properly to the management. Because the amount that was actually taken from the bank was about 20million naira or so. But because we didn’t pay attention into it, the thing increased and I think it increased to about one hundred and something million. But now, there was a house in GRA which was taken to offset part of the loan. So, the amount has come down significantly and because the  Edge Executive is taking over the management of the hotel, they are taking over the assets and liabilities. So, by the agreement they will be in charge of AMCON and the family will have nothing to do with the issue anymore, “she said.

On how she feels now that the hotel is under a new management. “I am very releaved that a new management is taking over because most of us, the children of Aiyegbeni, are not on ground and that is why the AMCON thing happened in the first place. We have other projects that we are pursuing. So, when they take over, it is for the betterment of not just the family alone, but also for the society as well. Because D’ Rovans is a very big hotel and it has actually contributed to the economy of Oyo State. So, if people that know about hotel, people that can run hotel and know what it takes to run the hotel take over, it means the hotel would come back to life, to become the D’Rovans that people used to know. Look at the level of unemployment that happened just because the hotel was shutdown. If the hotel comes back to life, it would not have positive effect only on the children, but also on a lot of families as well. So, I am really glad that they are coming into the picture. Remember that the property is part of my dad’s legacies and the fact that the hotel was shut doesn’t implies that the family is having problem, as it was written in your report,” she submitted.

Dare Adeniran

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