The major objective of the company was to provide finance for and manage the construction of the then proposed Sheraton Lagos Hotel which was completed and opened in September 1985.

The company became a public company in 1983. The major shareholders of Ikeja Hotel Plc include leading development banks, Insurance companies, corporate bodies, financial institutions and private individuals.

Ikeja Hotel Plc, is a core shareholder in The Tourist Company of Nigeria Plc, the owning Company of Federal Palace Hotel & Casino, Lagos.

In 2002 Hans-Gremlin (Nigeria) Limited, a subsidiary of Ikeja Hotel Plc, acquired 51% equity stake in Capital Hotels Plc (owners of Sheraton Abuja Hotel) under the privatization programme of the Federal Government of Nigeria. This important acquisition firmly consolidated the leading position of Ikeja Hotel Plc, in the nation’s hospitality industry.