
Long-Term Vision for the Nigerian Short-let Industry
The short-let industry in Nigeria has the potential to become a significant contributor to the country’s economy. At Dee One Luxury Apartment, our long-term vision is to position Nigeria as a premier destination for flexible and high-quality short-term accommodation across Africa. This vision aligns with global models like Airbnb, where short-let services have transformed travel and hospitality experiences. We aim to create an ecosystem where both local and international travelers can access safe, comfortable, and well-serviced apartments in key cities.
Our strategy involves creating jobs and supporting local businesses by employing property managers, cleaners, security staff, and customer service agents. We also collaborate with electricians, plumbers, furniture makers, and laundry services, helping them grow their businesses. By attracting tourists and business travelers, we ensure that they spend money in restaurants, malls, and entertainment spots, which helps the hospitality and retail sectors grow. Additionally, we support local manufacturers by purchasing Nigerian-made furniture, home décor, and appliances, reducing reliance on imports. All transactions are cashless, promoting digital payments and contributing to Nigeria’s cashless policy. Finally, we pay taxes and necessary fees to the government, contributing to public revenue that funds essential infrastructure.
Economic Contributions of the Sector
While exact data is still emerging, conservative estimates suggest that the Nigerian short-let sector contributes billions of naira annually to the economy. In Lagos alone, the proliferation of short-let apartments has boosted the real estate rental market and supported a vibrant hospitality sub-sector. Informally, it has created thousands of jobs, especially among the youth. Beyond direct rentals, guests staying in short-let apartments spend on food delivery, transport, local attractions, and retail, creating a multiplier effect. If we benchmark against global trends, short-let apartments can contribute 0.5 per cent to one per cent of the national gross domestic product in thriving markets. Nigeria, with its growing urban population and diaspora ties, is poised to reach or exceed that threshold in the next few years.
Defining Success in a Dynamic Market
Success in Nigeria’s dynamic real estate and hospitality sectors means sustainability, adaptability, and consistent service delivery despite external volatility. For us, success is defined by factors such as high occupancy rates, strong customer retention, operational profitability during inflationary periods, positive guest feedback, and strategic partnerships with fintech, logistics, and real estate platforms. The brands that continue to innovate while maintaining guest satisfaction will define the sector’s success story.
Leadership Lessons in Scaling a Business
One major leadership lesson is resilience. Nigeria’s business environment demands mental toughness and constant problem-solving. Building strong teams is critical; no leader can scale alone. Competent operations staff and responsive customer service teams are essential. Agility is also key, as trends change quickly, and what worked last quarter might not resonate today. We have had to pivot our marketing strategies, introduce flexible pricing, and adjust our property offerings in response to customer feedback and market dynamics. Transparency and ethical business practices are crucial in a sector sometimes viewed with scepticism.
Evolving Guest Preferences
We rely on direct customer feedback, market surveys, and performance analytics from our booking platforms. Preferences vary between local corporate travellers, diaspora Nigerians, and international tourists. For luxury seekers, we prioritize modern interiors, in-apartment amenities like Netflix and high-speed Wi-Fi, and seamless check-in experiences without compromising cleanliness and security. Safety has become a non-negotiable concern, especially in Nigeria. We work closely with vetted security firms, install smart locks and closed-circuit television systems, and regularly audit our safety protocols.
Strategies for Attracting Clients
Digital marketing has been the bedrock of our outreach. We leverage social media, influencer partnerships, and paid digital adverts to build brand awareness. For the international market, we target Nigerian diasporans visiting for weddings, holidays, or business. We offer flexible check-in times, curated local guides, and seamless payment in foreign currencies. Partnerships with travel agencies and corporate relocation services have also driven international bookings. Locally, we engage with agents, and word-of-mouth referrals remain a powerful channel.
Differentiating Properties
Differentiation is about experience, not just aesthetics. Our approach includes high-touch customer support that resolves issues quickly, day or night. Modern and consistent furnishings across our property portfolio and flexible booking and cancellation policies that prioritize guest convenience. We also offer airport pick-up service and escort sourcing for high-profile clients. Our goal is to create memorable stays, not just provide spaces to sleep.
Operational Challenges and Solutions
Some of the biggest challenges include unstable electricity supply, which we address with backup generators, solar inverters, and seamless power-switching systems. Water supply inconsistencies are managed through boreholes and water treatment solutions. On security, we partner with top security companies and deploy access control systems. Preventative maintenance schedules and on-call technicians for emergency repairs are part of our strategy.
Impact of Government Policies and Regulations
Government policies, taxes, property laws, compliance requirements, and infrastructure quality regulations influence our costs. We pay assessment fees, building control agency fees, town planning fees, insurance, material testing fees, and local government fees. Local housing regulations like zoning laws, building codes, safety standards, and licensing requirements can limit where and how we operate and affect guest experience.
Technology Integration and Future Plans
Technology underpins our entire operation. We use property management systems to track bookings, manage payments, and coordinate housekeeping. Smart locks allow contactless check-ins and check-outs, enhancing guest convenience and security. In the future, we plan to implement dynamic pricing algorithms, AI-powered guest communication tools, data analytics for predicting market trends, and blockchain-backed booking platforms. Nigeria’s fintech ecosystem presents opportunities for seamless payment solutions, including crypto and cross-border transactions.
Maintaining Quality Standards
We maintain strict service level agreements with cleaning and maintenance partners. Each property undergoes weekly inspections, and we enforce quality checklists before every guest check-in. Infrastructure issues are addressed proactively. Power backups, water filtration systems, and internet redundancy plans are built into our operational standards. Staff members are empowered to resolve issues locally while staying aligned with our brand-wide quality benchmarks.
Managing Financial Risks
We price some of our listings in dollars to hedge against naira volatility. Our business also maintains Forex accounts to absorb fluctuations in currency conversion rates. We keep our operational cost structure flexible and lean, scaling staff and expenses according to demand patterns.
Investment Strategy for Expansion
We own our properties, buying and building solely for short-let purposes. This gives us a competitive edge in terms of architectural structure, interior design, and cost flexibility. Our investment strategy for expansion will involve a combination of ownership and leasing, depending on the location and market conditions, to grow the business efficiently while maintaining quality and flexibility in operations.
Building a Strong Service Culture
We invest heavily in staff training, emphasizing empathy, communication skills, and proactive problem-solving. Our induction programmes teach team members to anticipate guest needs and resolve issues without escalation. Regular performance reviews, customer feedback sessions, and reward systems keep the team motivated. We maintain an open-door leadership style, where frontline staff feel heard and empowered to share their ideas.
Hiring Key Personnel
We prioritize emotional intelligence, adaptability, and results orientation. Leaders must be calm under pressure, creative problem-solvers, and skilled in people management. Given the fast-paced nature of the short-let sector, we also seek individuals with strong tech literacy and prior hospitality or real estate experience. Cultural fit is critical, and we hire people who embody our core values of integrity, excellence, and customer obsession.
Opportunities for Innovation
The Nigerian short-let market is still relatively young and growing rapidly, especially in urban centers like Lagos, Abuja, and Port Harcourt. Over the next five years, there will be significant opportunities for innovation and disruption in areas such as tech-enabled booking and automation platforms, smart property management tools, and end-to-end solutions for operators’ booking, housekeeping scheduling, inventory, and guest communication. With the right investments in technology, infrastructure, and people, we can build a world-class industry that rivals global benchmarks.