The company was incorporated on 10 April 1964, with its share capital wholly-owned by the Federal Government of Nigeria, to acquire the Federal Palace Hotel. In 1992, Ikeja Hotel Plc in association with other investors (collectively the "Ikeja Hotel Group"), acquired all the shares of the Company from the Federal Government. Between 2009 and 2010, Sun International Limited of South Africa acquired substanstial shares in the Company, thereby becoming an equal shareholder with the Ikeja Hotel Group. The principal activities of the Company are the operation ofhotel and casino businesses, and the provision of catering services.
