The most expensive room at the Eko Hotel Lagos is 680k for a night.

Yes, 680k for a night.

Guess what?

Even with this price, which many will consider outrageous, you can’t find a free room in that hotel if you want to stay over as of this morning because there is no space; the whole Eko hotel is fully booked, and this has been so since October, and there will be no space in the hotel till the end of January.

Now I understand why our president’s best friend and the owner of Eko Hotel, Gilbert Chagoury, relocated to his castle in Paris, France, where he is enjoying his retirement from business.

When you have a business in Nigeria that prints daily income running into billions of naira monthly, you can afford to spend your retirement even on Mars.

But the lessons for me here are these:

Daily income is important.

Gilbert Chagoury, the owner of Eko Hotel, can afford to enjoy his retirement in Paris because he has a daily income-generating asset and business in Lagos.

More importantly, it does not matter how expensive your product is, as long as you are offering value and selling an experience that the public thinks is worth the price of your product because they have been programmed to believe so.

People will come, and they will buy.