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Transcorp Hotels Plc is investing in a 5,000-capacity event centre purpose-built to host local and international entertainment, conference, and exhibition events.
The Managing Director/CEO, Dupe Olusola, who discloses this, said that this new world-class facility located within the premises of Transcorp Hilton Abuja is scheduled to open in the second half of 2024.
She added 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. Significant increases in occupancy rates and guest satisfaction have rewarded our considerable investment in our iconic Transcorp Hilton Abuja.
“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.”
Meanwhile, Transcorp Hotels posted a strong performance of 36 per cent Year-on-Year revenue growth for the year 2023.
The Company’s audited 2023 full-year results released on the Nigerian Exchange showed outstanding performance and set new revenue and profit records.
Transcorp Hotels reported record-breaking revenue of N41.5 billion in 2023, compared to N30.4 billion in 2022, marking a substantial 36 per cent growth year-on-year, while operating income also grew by 50 per cent, to close at N13.1 billion as of December 2023, compared to N8.8 billion in December 2022.
The Company’s profit for the year grew by 133 percent from N2.6 billion in December 2022, to N6.1 billion in December 2023.
Total Assets increased by five per cent from N120.5 billion in December 2022, to N126.1 billion in December 2023
