Transcorp Hotels Plc, a subsidiary of Transnational Corporation Plc, has announced its planned expansion in Ikoyi, Lagos State and Port Harcourt, Rivers State.
Transcorp said by doing so, it will continue to exceed its 2023 revenue performance of N41.5 billion in the coming years.
The Managing Director/CEO of the hotels, Dupe Olusola, revealed this during the 2023 financial year investors call.
Olusola said keeping the business profitable through quality services and offerings remains priority, adding that the Lagos and Port Harcourt expansions will boost the company’s profitability.
According to her, the company’s occupancy ratio rose from 78 percent in 2022 to 81 percent in 2023, with revenue surging from N30.4 billion to N41.5 billion, while profit before tax grew from N4.6 billion in 2022 to N9.5 billion in 2023.
She disclosed that the company is planning to build a 315-key five-star hotel with features of relaxation and lifestyle centre in the heart of Ikoyi, Lagos State.
Olusola said: “Let me start by saying a warm welcome to all our esteemed investors and analysts who have joined this call with us today.
“Today, I am thrilled to share the exceptional strides we have made at Transcorp Hotels Plc over the past year, our commitment to sustainable practices, and our forward-looking strategies….
“Our flagship brand, Transcorp Hilton Abuja, continues to set the standard for luxury hospitality and culinary excellence.
“With 670 rooms, 20 meeting rooms and seven restaurants, it stands as one of the largest hotels in Sub-Saharan Africa, offering a unique blend of hospitality and lifestyle experiences that resonate with both business and leisure travelers seeking exceptional service and memorable moments.
“Aura by Transcorp Hotels is Africa’s best platform for connecting travellers to unique accommodation, great food, and memorable experiences.
“With 4,000 rooms across 88 Hotels and 490 apartments, Aura offers a wide range of accommodation and experience options for guests.”
Olusola then went on to highlight future plans in her closing statement: “To sustain our performance, we will focus on key growth drivers that will ensure we continuously win in this ever-changing industry and economy. Some of which include:
“The enhanced use of our digital platform Aura, which is revolutionising how we drive bookings, engage with guests, and generate revenue. This technology underscores our commitment to growth and adaptability in the digital age.
“Upgrading our technology to enrich the guest experience, offering contactless services and personalised offerings that cater to the unique preferences of each visitor, ensuring that our services are not just cutting-edge but also deeply personal.
“Strategic sourcing and operational efficiency which are key to our cost optimisation efforts. We are dedicated to managing expenses without compromising the quality that our guests have come to expect from us.
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“Focus on eco-friendly initiatives, energy-saving measures, and sustainable sourcing, and;
“Continuously looking for ways to enhance the value and utility of our assets – including thoughtful refurbishments and adaptive reuse of spaces, ensuring that our investments yield the best possible returns.
“We are confident that we will maintain our performance through 2024 and beyond.
“We are committed to not only upholding but elevating the exceptional guest experiences that set us apart.”
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