✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live

Transcorp hotels post N41bn revenue in 2023

Transcorp Hotels Plc. has released its audited 2023 full-year results, showing an improved performance and with total revenue of N41.5 billion in 2023. The figure…

Transcorp Hotels Plc. has released its audited 2023 full-year results, showing an improved performance and with total revenue of N41.5 billion in 2023.

The figure is over N11 billion compared to N30.4 billion in 2022, marking a substantial 36% growth year-on-year, while operating income also grew by 50%, to close at N13.1 billion as of December 2023, compared to N8.8 billion in December 2022.

A statement by the company says: “Total revenue for the year ended December 31, 2023, was N41.5 billion, compared to N30.4 billion in December 31, 2022, signifying a 36% increase. Also, operating Income grew by 50% from N8.8 billion in December 2022, to N13.1 billion in December 2023 while profit for the year grew by 133% from N2.6 billion in December 2022, to N6.1 billion in December 2023.

“Also, total assets increased by 5% from N120.5 billion in December 2022, to N126.1 billion in December 2023.”

Police reject N1m bribe, arrest bandit in Kaduna hotel

Epileptic Power Supply Frustrating, Killing Hospitality Industry In Delta – Hoteliers

Dupe Olusola, Managing Director/CEO, commenting on the results noted that, “By strategically investing in innovations that align with our growth objectives, we continue to deliver these impressive numbers, beating our previous year’s records. Our considerable investment in our iconic Transcorp Hilton Abuja has been rewarded by significant increases in occupancy rates and guest satisfaction.  We are continuing this investment, with our 5,000-capacity event centre purpose-built to host local and international entertainment, conference, and exhibition events.”

 

VERIFIED: It is now possible to live in Nigeria and earn salary in US Dollars with premium domains, you can earn as much as $12,000 (₦18 Million).
Click here to start.