Transcorp Hotels posts N22.41bn revenue in Q1, clarifies Abuja water disruption incident

Transcorp Hotels Plc, the hospitality arm of Transnational Corporation Plc, has recorded a strong performance in the first quarter of 2026, posting revenue of ₦22.41 billion, even as it addressed concerns over a recent water supply disruption at one of its flagship properties.

In its unaudited results for the period ended March 31, 2026, the company reported a 9 per cent increase in revenue compared to ₦20.64 billion recorded in the corresponding period of 2025, reinforcing its position as a leading player in Africa’s hospitality sector.

The group also recorded a 15 per cent growth in Profit Before Tax, while gross profit margin expanded to 77 per cent, reflecting improved operational efficiency and disciplined cost management.

According to the management, the Q1 performance demonstrates the strength of its long-term strategy built on operational discipline, service quality, and sustainable value creation.

“Transcorp Hotels is not only growing; we are setting new benchmarks for world-class hospitality in Africa and remain committed to continuously elevating that standard,” the company said.

The Chief Finance Officer, Oluwatobiloba Ojediran, said the results reflected the team’s focus on efficiency without compromising guest experience.

“These results reflect a clear and compelling story of a team deeply committed to operational efficiency and cost management without compromising our service standard,” he said.

He added that the company reduced its cost of sales margin from 25 per cent in Q1 2025 to 23 per cent in Q1 2026, describing it as evidence of disciplined execution across operations.

Transcorp Hotels, a subsidiary of Transnational Corporation Plc, continues to leverage its broader group structure to strengthen its leadership position in the hospitality industry.

Meanwhile, the company also addressed recent reports concerning a water supply disruption at Transcorp Hilton Abuja, dismissing claims of an ongoing issue.

In a separate statement, the hotel explained that the disruption was brief and caused by emergency maintenance work carried out by the Federal Capital Territory Water Board, which began on April 14, 2026.

Management said the interruption lasted only one day and was swiftly managed through contingency measures that ensured uninterrupted guest services.

Water supply, according to the hotel, was fully restored on April 15, 2026, and has remained stable since then across all facilities.

The management rejected social media reports suggesting a prolonged shortage, describing them as misleading and inaccurate.

“Transcorp Hilton Abuja remains committed to delivering the highest standards of hospitality and guest experience,” the statement added.