Managing Director of Travelden, a subsidiary of Finchglow Holdings Ltd, Mr Gbenga Onitilo, has warned that overpricing threatens Yuletide festivities, otherwise known as Detty December, saying hotels, apartments and event tickets are now being charged in foreign exchange.
Onitilo lamented the exorbitant pricing, saying it was forcing many people to seek cheaper alternatives in other African countries such as Ghana and Rwanda.
Addressing newsmen in Lagos, he urged government to introduce regulations and work with industry players to ensure a better Detty December experience for visitors, especially those coming from the diaspora.
He said: "What has happened this year is that a lot of people prepared and started putting things in place. However, what we have witnessed so far is pricing being taken out of order.
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"We are seeing bars, restaurants and even hotels charging three times their normal rates. The pricing of show tickets is far above what is reasonable, and this is affecting affordability even for those coming in.
"They are now pricing based on forex, not based on our economic realities. This is pushing people to consider travelling to other countries instead.
"For this year's Detty December, one of the major challenges we have seen is overpricing. Hotels and apartments, including those with available rooms, have increased their prices by as much as six times because they are targeting visitors who will spend foreign currency. I think it is something government needs to look into."
