Calabar Guest Inn

The Calabar Guest Inn  is an established business looking for money to expand and take advantage of new opportunities.

By the year 2010 , due to increased travel to Obudu Cattle Ranch (also in Calabar) and Tinapa Resort on the part of business  people and  families with children wanting a convenient, affordable place to mix business with pleasure the Cross River Forum  estimates that two  million people will visit the area each year. In late 2008, many dwelling houses were converted to “makeshift” hotels to cater for the huge number of business and vacation tourists. The acute shortage of hotel accommodation will become even more glaring this year and thereafter.

The Calabar Guest Inn  wants to build on its reputation and take advantage of this growth by renovating and expanding its current three-room, two-chalet. Akpan and Ekaette Isong  have been running Calabar Guest Inn since 2000  and since then have been featured three times in the "Best of Guest Inns" annual ratings  which is based on guest reviews and feedback collated by the Cross River State Forum.

The Guest Inn is  located on the bank of the Calabar River on one acre of land which provides sights and images of the Tinapa Resort, Calabar Marina, Calabar Residency Museum and the Calabar Slave Park along its course.  The inn creates a great getaway spot and there is always a trilling adventure awaiting the eco tourist or business person visiting Calabar. Akpan Isong’s  experience as a chef at the Lagos Sheraton Hotel  also attracts guests who are looking for good food. Occupancy in The Calabar Guest Inn  has risen at rates of 20 percent or more annually since year 2000.

In addition to improving current accommodations, the renovation will add two rooms to the main house of the inn and one chalet  to the grounds outside of the house. The renovation will take place over a six month period, from January  2010 to  June 2010, the slowest months for the inn. A permit from the town planning ministry  and three quotations  from local contractors have been procured. Renovations include refurbishing bathrooms to add overhead  lamps, larger  windows, and larger sinks - amenities guests can find at other local inns  and extras their usual guests  want and expect.

The bathroom amenities, along with air conditioners, will be added to the chalets  because market data from the Cross River forum annual survey indicates that guests will pay top of market prices for these features. Chalets  will be remodeled to add room for a bedroom with twin beds to accompany the master (king size) bedroom, thereby making the chalets  suitable for families.

As at financial year end 2008, the total value of guest billings was N19.2million with profits being 40% of this. All renovations will enable the Isongs  to raise room rates by 30 percent and sales figures are expected to increase with a corresponding rise in profits.

The business is structured as a sole proprietorship. The principals, Akpan and Ekaette Isong , seek loans totaling N20,000,000  for  renovations and improvements. The Isongs ' will provide N5,000,000  for the renovation.