Company overview
Ikeja Hotel Plc is one of Nigeria’s leading hospitality and tourism companies listed on the Nigerian Exchange (NGX) under the ticker IKEJAHOTEL. Founded in 1972, the company owns and operates premium hotel assets and maintains strategic investments across Nigeria’s hospitality sector. The company’s flagship asset is the renowned Sheraton Lagos Hotel, one of Nigeria’s most recognized business hotels.
Current price: N44.60
Rating: Buy
Price projection: N59 (+32.29%) and N75 (+68.16%)
Technical Analysis
In this report, we shall use the following tools and analysis methods:
Elliott’s wave theory to understand the overall market sentiment
Fibonacci tools to determine support and resistance levels
The Relative Strength Index and volume to evaluate the market’s strength
The Money Flow Index to determine the market liquidity
Moving average and MACD to understand the nature of the trend
Top-down analysis to know the best investment position
Elliott wave theory
Weekly chart: Market overview
On the weekly chart, the stock trades within wave W of the higher degree. In the lower degree, the stock trades within wave Y, which will end wave W of the higher degree.
Daily chart: Investment opportunity
On the daily chart, the stock entered a brief corrective phase (wave x) after meeting a resistance at N47.45. Thus, plotting the Fibonacci retracement, the brief corrective phase should rebound within the 0.5 and 0.682 Fibonacci sequences. Thus, the investment opportunities lies between N38 and N40 with a price projection of N59 (+32.29%) orN75 (+68.16%)
Indicator analysis
Weekly chart: Market overview
On the weekly chart, it sustained its liquidity and momentum. Also, MACD just commenced its bullish signal which shows the market’s strengthening.
Daily chart: Investment opportunity
Notably on the daily chart, MACD just commenced its bearish momentum, signaling profit-taking. It also offers an investment opportunity for discount buyers. The stock met a strong resistance during the intraday market, which led to its bearish momentum. Thus, a strong bullish sentiment and liquidity should confirm an entry point.
Fundamental Analysis
Financial report for the year 2025
Key insight: The rating for Ikeja Hotel’s financial report is 100%, which means the stock is sustainable for long-term investment
Key Highlights
Revenue grew by 37.80%, reflecting stronger hotel occupancy, improved room rates, and increased event/conference activities.
PAT surged by 94.43%, indicating significant improvement in operational efficiency and profitability.
Total assets declined by 7.45%, likely due to asset disposals, depreciation, or balance sheet restructuring.
Total liabilities fell sharply by 37.50%, showing substantial deleveraging and a stronger financial position.
Operating cash flow increased by 42.00%, demonstrating stronger cash generation from core operations.
SWOT analysis
