ARM Divests from Four Points by Sheraton

One of Nigeria’s leading asset management and investment firms, ARM Limited has announced that it has successful exited from Oceanwinds Hospitality Limited (OHL), owners of Four Points By Sheraton Hotel in Lagos

The Four Points by Sheraton Lagos - OHL’s single asset - is an internationally branded 234-key hotel, with 8 meeting and conference rooms, 4 Food & Beverage outlets and a full service Spa and Fitness center.

ARM in a statement said it initiated and managed the development of the hotel which began operations in 2010, following which it provided asset management services which has seen the hotel’s Revenue Generation Index (RGI) consistently rank among the top 2 in its competitive set.

Managing Director of ARM Hospitality & Retail, Mrs. Sade Hughes said: “We are pleased to have been a part of this laudable investment in the first Four Points by Sheraton hotel in Africa. “Our exit culminates the full cycle of our investment process, and further reinforces our belief in the potentials of Africa’s hospitality segment.”

She added that ARM’s sale of OHL to Westmont International Development Inc., a Canadian based investment firm, was in furtherance of the strategy for its hospitality and retail business, which invests in opportunities within the high growth hospitality and retail sectors in Africa.

“ARM’s track record in this sector includes its prior investment in the Moorhouse Sofitel Hotel in Ikoyi, Lagos (now Hotel Moorhouse M Gallery by Sofitel) which it exited in 2004; and the Oluwole Urban Mall, Lagos, exited in 2012. ARM is currently developing a number of pipeline projects in key cities across West-Africa, “she stated.