Mike’s Manor

Lekki Phase 1 • Lagos

5 Three-Bedroom Units • Lekki Phase 1

Boutique Hotel Luxury, Lean Shortlet Soul.

A strategic hospitality management proposal prepared exclusively for Mr. Michael by Zach Nexus Holdings Ltd.—transforming five luxury residences into a high-yielding boutique ecosystem.

Base Target Projection (50% Occupancy • ₦300k/Night) 5-Unit Portfolio

Projected Annual Gross

₦273,750,000

912.5 booked nights / yr

Annual Net Operating Income

₦225,090,000

82.0% Operating Margin

Owner Annual Payout (75%)

₦168,817,500

₦33.76M / unit / year

Explore Financial Model Read Executive Vision
Modern wood-and-glass luxury residence exterior at dusk
Boutique Shortlet Ecosystem

Boutique Rate Positioning

₦300,000 / night Target ADR

Peak Season

₦350k–₦440k+

01 / Executive Summary

Fusing lean shortlet operations with unreasonable hospitality.

The Lekki hospitality market currently forces property owners into a compromise: traditional shortlets offer lean operational costs but suffer from fragmented, unbranded guest experiences and leave guests underwhelmed with basic, sometimes bad customer experiences. Conversely, boutique hotels command premium rates and high guest trust but carry heavy 24/7 staffing, operations, and facility overhead.

We propose the best of both worlds: fusing the lean, low-overhead operational model of shortlets with the signature branding, elevated amenities, and high-end customer service of a luxury boutique hotel.

By transforming your 5 apartments into Mike’s Manor (or whatever name you’d prefer), we eliminate expensive operations and payroll through smart-access technology, automation, and centralized operations, while delivering a five-star guest experience—monogrammed linens, custom toiletries, a 24/7 digital concierge, and a dedicated direct-booking engine.

Our “Unreasonable Hospitality” Ethos

“Simply put, we’ll do basic things exceptionally well, and leave the guests with a reason or two to come back and to recommend us.”

This hybrid positioning allows your portfolio to capture premium boutique rates (₦300,000/night and more in peak seasons) while preserving high operating margins.

Minimalist luxury bedroom with warm ambient lighting Hotel-Grade Suites
Spa bathroom with neatly folded white cotton towels Bespoke Amenities

82.0%

Projected Net Operating Margin at 50% Occupancy

Hotel-Grade Comfort

Monogrammed cotton towels, plush bathrobes, and signature bath amenities in every suite.

Smart-Access Tech

Zero-wait self check-in via smart locks—eliminating costly 24/7 front-desk payroll.

24/7 Digital Concierge

One WhatsApp message for housekeeping, private chefs, or transfers—answered in minutes.

Uninterrupted Power & Fiber

Band A power, backup diesel reliability, and high-speed Starlink/fiber built for executive stays.

02 / Operating Architecture

Engineered for high yield and zero hotel bloat.

How the Mike’s Manor hybrid model outperforms conventional shortlets and traditional hotels across core operational pillars.

Operational Pillar Standard Lekki Shortlet Traditional Boutique Hotel
Mike’s Manor Hybrid Model
Front Desk & Check-In
Manual / Inconsistent 24/7 On-Site Reception Payroll
Smart-Access Tech + 24/7 Digital Concierge
Housekeeping & Linens
Domestic / Variable Heavy Internal Laundry Staff
2 Lean Runners + In-House Commercial Washers
Booking Channels
100% OTA Dependent (15–18% fees) Brand Site + OTAs
Custom Direct-Booking Engine + Multi-Channel Sync

03 / Financial Model (5-Unit Portfolio @ ₦300,000 / Night)

Transparent unit economics and high-margin yield.

Based on 5 three-bedroom units (150 available nights/month; 1,825 nights/year) and a disciplined monthly OpEx budget of ₦4,055,000 (₦811,000/unit/month).

Monthly Gross Revenue 75.0 nights/mo

₦22,500,000

Less ₦4,055,000 fixed monthly OpEx

Monthly Net Operating Income 82.0% Margin

₦18,445,000

₦3,689,000 NOI per apartment / mo

Annual Gross Revenue 365-Day Basis

₦273,750,000

912.5 total room nights / year

Annual Portfolio NOI Base Target

₦225,090,000

Owner 75% Net: ₦168,817,500 / yr

A. Revenue, OpEx & Net Operating Income (NOI) Sensitivity

All figures in Nigerian Naira (₦)
Financial Metric Conservative (35% Occ.) Base Target (50% Occ.) High-Performing (65% Occ.)
Booked Nights / Month (5 Units) 52.5 nights 75.0 nights 97.5 nights
Monthly Gross Revenue ₦15,750,000 ₦22,500,000 ₦29,250,000
Less: Monthly OpEx (₦4,055,000) (₦4,055,000) (₦4,055,000)
Monthly Net Operating Income (NOI) ₦11,695,000 ₦18,445,000 ₦25,195,000
Annual Gross Revenue ₦191,625,000 ₦273,750,000 ₦355,875,000
Annual Net Operating Income (NOI) ₦142,965,000 ₦225,090,000 ₦307,215,000

B. Monthly Operating Expense (OpEx) Breakdown

Centralized 5-unit operational budget engineered for uninterrupted luxury and zero waste.

Total Monthly OpEx: ₦4,055,000 (₦811k / unit)

Power & Utilities

₦2,395,000/mo
  • EKEDC Band A (5 units) ₦1,000,000
  • Diesel / Backup Fuel ₦1,200,000
  • Generator Servicing ₦80,000
  • Water & LAWMA Waste ₦65,000
  • Cooking Gas (LPG) ₦50,000
59.1% of total OpEx 24/7 Uninterrupted Power

Lean Staffing & Security

₦650,000/mo
  • 2 Housekeeping Runners ₦200,000
  • 2 Security / Facility Guards ₦200,000
  • Virtual Concierge & Guest Ops ₦250,000
16.0% of total OpEx Zero Front-Desk Bloat

Marketing & Tech Stack

₦470,000/mo
  • Social Media / Paid Ads ₦300,000
  • Starlink / Fiber Internet ₦100,000
  • PMS / Channel & Smart Locks ₦30,000
  • Streaming (Netflix, DSTV, Prime) ₦30,000
  • Website Hosting & Domain ₦10,000
11.6% of total OpEx Direct-Booking Engine

Housekeeping & Guest Amenities

₦440,000/mo
Branded Toiletries & Amenities ₦180,000
Guest Welcome Kits ₦100,000
In-House Laundry Supplies ₦80,000
Cleaning Consumables & Scents ₦80,000
10.9% of total OpEx Signature Unreasonable Hospitality Touchpoints

Maintenance & Reserve

₦100,000/mo
  • Routine AC / Plumbing Repairs ₦50,000
  • Linen & Crockery Reserve ₦50,000
2.5% of total OpEx Asset Preservation

04 / Aligned Partnership

Performance-aligned 75 / 25 Net Operating Income split.

To ensure complete alignment around controlling utility costs and maximizing nightly rates, our management fee is calculated strictly on Net Operating Income (NOI) after all monthly operating expenses are settled.

Owner Net Distribution — 75% of NOI Management Fee — 25% of NOI
Owner Share • 75% of NOI

Monthly Net to Mr. Michael (at 50% Occ.)

₦13,833,750 / mo

Annual Net Payout

₦168,817,500

Per Apartment / Year

₦33,763,500

Outperforms standard Lekki Phase 1 long-term annual rental yields (~₦18M/unit average) by approximately 2×.

Management Fee • 25% of NOI

Monthly Management Fee (at 50% Occ.)

₦4,611,250 / mo

Annual Management Fee

₦56,272,500

Calculation Basis

Net After All OpEx

Zero hidden agency markups—our compensation scales strictly alongside your net profitability.

Included in Your 25% Management Fee

Dedicated In-House Team Assigned Exclusively to Mike’s Manor

Our 25% management fee covers a dedicated in-house team assigned exclusively to the property—eliminating separate agency retainers and ensuring seamless brand execution across:

Sales & Bookings
Guest Relations
Marketing
Social Media Mgmt
Direct Web Updates
Financial Accounting
Maintenance Escalation & Vendor Coordination
Calendar Management
Guest Vetting

Governance & Transparency

Dedicated operating account with monthly itemized P&L statements, live booking calendar access, and automated monthly distributions.

  • Real-time owner visibility into occupancy & ADR
  • Vetted diesel, EKEDC & vendor receipt auditing

05 / Deployment Roadmap

Immediate mobilization to launch.

Two parallel workstreams initiate immediately upon sign-off to bring Mike’s Manor online without delay.

01 Immediate

Mobilization for Branding & Website

Immediate initiation upon agreement sign-off—kicking off the visual identity suite, custom direct-booking engine, Paystack/Flutterwave integration, WhatsApp concierge automation, and architectural media shoot across all 5 units.

Brand Identity • Direct-Booking Engine • Architectural Shoot
02 Immediate • 2-Week Production Timeline

Custom Amenities & Linens Ordering

Immediate procurement and bespoke production of monogrammed cotton towels, embroidered plush bathrobes, custom-labeled bath amenities, and hotel-grade linens (2-week production timeline).

Embroidered Towels • Branded Toiletries • Hotel Linens