Transcorp Hotel To Maintain Growth Performance Through 2024

The managing director/CEO, Transcorp Hotels Plc, Dupe Olusola said the Company will maintain its growth performance through 2024 and beyond.

Olusola stated this at the Transcorp Hotel Investors conference held via virtual. She said the Company is committed to redefining the hospitality experience across the continent, ensuring that every interaction with our brand is memorable and unmatched.

She added that “our flagship brand, Transcorp Hilton Abuja, continues to set the standard for luxury hospitality and culinary excellence. With 670 rooms, 20 meeting rooms, and 7 restaurants, it stands as one of the largest hotels in Sub-Saharan Africa, offering a unique blend of hospitality and lifestyle experiences that resonate with both business and leisure travellers seeking exceptional service and memorable moments.

“Aura by Transcorp Hotels is Africa’s best platform for connecting travellers to unique accommodation, great food, and memorable experiences. With 4,000 rooms across 88 Hotels and 490 apartments, Aura offers a wide range of accommodation and experience options for guests.”

To sustain its performance, Olusola stated that “we will focus on key growth drivers that will ensure we continuously win in this ever-changing industry and economy.

According to her, the company will enhance use of its digital platform Aura, which is revolutionising how we drive bookings, engage with guests, and generate revenue. This technology underscores our commitment to growth and adaptability in the digital age.

“Upgrading our technology to enrich the guest experience, offering contactless services and personalised offerings that cater to the unique preferences of each visitor, ensures that our services are not just cutting- edge but also deeply personal.

“Strategic sourcing and operational efficiency which are key to our cost optimization efforts. We are dedicated to managing expenses without compromising the quality that our guests have come to expect from us. We will be focusing on eco-friendly initiatives, energy-saving measures, and sustainable sourcing; and continuously looking for ways to enhance the value and utility of our assets.”

She added that “we will maintain our performance through 2024 and beyond. We are committed to not only upholding but elevating the exceptional guest experiences that set us apart. Our strategy is to widen our portfolio, innovating and diversifying our services to drive revenue growth further whilst also focusing on operational efficiency to reinforce our position as the leader in Nigeria’s hospitality sector.”

Looking at the Company’s performance in first quarter (Q1) of 2024, Transcorp Hotels reported a record-breaking revenue of N41.5 billion in 2023, compared to N30.4 billion in 2022, marking a substantial 36 per cent growth year-on-year, while operating income also grew by 50 per cent, to close at N13.1 billion as of December 2023, compared to N8.8 billion in December 2022.

Profit for the year grew by 133 per cent from N2.6 billion in December 2022, to N6.1 billion in December 2023. Total Assets increased by five per cent from N120.5 billion in December 2022, to N126.1 billion in December 2023