Transcorp Hotels Plc has recorded a revenue of N41.5 billion in its 2023 operations, against N30.4 billion posted in the corresponding period in 2022.
The firm’s Profit After Tax (PAT) also rose from N2.6 billion in 2022 to N6.1 billion during the review period.
According to the company, the percentage increase in revenue was 36 per cent while profit rose by 133 per cent .
The company linked the improved performance to innovativeness, continued dedication to excellence and total commitment to delivering exceptional service.
Additionally, its operating income grew by 50 per cent from N8.8 billion to N13.1 billion while total assets increased by five per cent from N120.5 billion in December 2022, to N126.1 billion in December 2023.
Managing Director of the company, Dupe Olusola said the company’s exceptional performance was achieved through continued dedication to excellence, unparalleled guest satisfaction and a resilient spirit that defines its commitment to delivering exceptional service and stakeholder value.
“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 have 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.”
Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation Plc (Transcorp Group), one of Africa’s leading, listed conglomerates, with strategic investments in the power, hospitality, and energy sectors, driven by its mission to improve lives and transform Africa.
