Business
Transcorp Hotels sets strategies to create higher value for investors
…showcases strong performance for the year ended 2023
Transcorp Hotels Plc, one of Africa’s premier hospitality organizations, has recently shared its future projections for the next four years and beyond to enable it to remain the best in the industry
Speaking to a group of investors in Abuja, at the Investors/Analysts forum, the company’s Managing Director/CEO, Dupe Olusola, expressed her confidence in maintaining the company’s performance and even elevating the exceptional guest experiences that set them apart.
Olusola highlighted several key growth drivers that the company will focus on to ensure continuous success in the ever-changing industry and economy.
Olusola said one of these drivers was the enhanced use of the company’s digital platform, Aura. The technology is revolutionizing how the company drives bookings, engages with guests, and generates revenue. This underscores the company’s commitment to growth and adaptability in the digital age.
She stated the importance of upgrading their technology to enrich the guest experience, offering contactless services and personalized offerings that cater to the unique preferences of each visitor. The company aims to ensure that their services are not just cutting-edge but also deeply personal.
According to her,Transcorp Hotels Plc also plans to focus on eco-friendly initiatives, energy-saving measures, and sustainable sourcing to reduce their environmental impact. Furthermore, they will continuously look for ways to enhance the value and utility of their assets, including thoughtful refurbishments and adaptive reuse of spaces, ensuring that their investments yield the best possible returns.
Transcorp Hotels Plc is committed to reinforcing its position as the leader in Nigeria’s hospitality sector. The company’s strategy is to widen its portfolio, innovating and diversifying its services to drive revenue growth further.
Transcorp Hotels Plc anticipates sharing more insights into their strategic initiatives at the upcoming AGM. They will outline the steps they are taking to secure and extend their market leadership. The company is confident that it will maintain its performance through 2024 and beyond, upholding and elevating the exceptional guest experiences that set it apart.
The company has not ceased to showcase its strong performance over the years.
According to its results for the period ended 2023, Transcorp Hotels reported record-breaking revenue of N41.5 billion in 2023, 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.
While Profit for the year grew by 133% from N2.6 billion in December 2022, to N6.1 billion in December 2023, Total Assets increased by 5% from N120.5 billion in December 2022, to N126.1 billion in December 2023.
“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. This new world-class facility located within the premises of Transcorp Hilton Abuja is scheduled to open in the second half of 2024. I am immensely proud of the team’s dedication, resilience, and unwavering commitment to excellence, in providing an unparalleled hospitality experience. We remain focused on our mission to continue exceeding expectations and setting new benchmarks in the African hospitality industry.” Said Olusola
