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Transcorp Hotel records N41.4bn revenue in 2023

Transcorp Hotel Plc has announced a 36.2 per cent rise in its revenue in 2023. Speaking during a presentation to analysts and investors, the Managing…


Transcorp Hotel Plc has announced a 36.2 per cent rise in its revenue in 2023.

Speaking during a presentation to analysts and investors, the Managing Director/CEO of Transcorp Hotels Plc, Dupe Olusola, said the company’s revenue rose from N30.4bn to N41.4bn.

Olusola, during the presentation, stated that the company’s profit before tax was N9.4bn, a 105 per cent rise from N4.6 in 2022.

She added that profit after tax was N6bn, a 133 per cent rise from N2.6bn in 2022.

She stated that the company continued to stand as one of Africa’s premier hospitality organizations and went beyond just providing a place to stay but committed to redefining the hospitality experience across the continent.

“Our flagship brand, Transcorp Hilton Abuja, continues to set the standard for luxury hospitality and culinary excellence. With 670 rooms, 20 meeting rooms, and seven 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.”

She added that to sustain its performance, “we will focus on key growth drivers that will ensure we continuously win in this ever-changing industry and economy. Some of which include, the enhanced use of our digital platform, Aura, which is revolutionizing how we drive bookings, engage with guests, and generate revenue. This technology underscores our commitment to growth and adaptability in the digital age.”

She said the company will engage in strategic sourcing and operational efficiency which are key to cost optimization efforts.

“We are dedicated to managing expenses without compromising the quality that our guests have come to expect from us.

“We are confident that we will maintain our performance through 2024 and beyond. 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,” the Managing Director/CEO stated.

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