Dupe Olusola has once again etched her name into the annals of Nigeria’s corporate history—this time, as she bids farewell to her transformative tenure as Managing Director/CEO of Transcorp Hotels Plc.
In a heartfelt post shared on her verified Instagram page, Olusola reflected on nearly five years of visionary leadership marked by resilience, innovation, and record-breaking success.
Appointed at the peak of uncertainty in March 2020, just as the COVID-19 pandemic paralyzed global economies and disrupted industries, Olusola stepped into a hospitality business on the brink.
Revenues had plummeted to ₦10.2 billion. Losses stood at a staggering ₦8.9 billion. Occupancy levels had dropped to a mere 5%. For most leaders, the odds would have been overwhelming. But for Dupe Olusola, surrender was never on the table.
“Giving up was never an option,” she wrote. “With an exceptional team by my side, we chose to fight, to think differently, and to innovate relentlessly.”
Indeed, under her leadership, Transcorp Hotels turned adversity into opportunity. Olusola introduced bold, out-of-the-box strategies that not only sustained the business but redefined the Nigerian hospitality experience.
From drive-through cinemas in the hotel parking lot to curated staycation packages and expanded delivery services, the hotel chain became a case study in creative resilience.
But the real story is in the numbers.
From ₦19 billion in revenue and ₦1.1 billion in profit before tax in 2019, Transcorp Hotels, under Olusola’s leadership, soared to ₦70.1 billion in revenue and ₦22.6 billion in profit before tax by the end of 2024. Shareholders saw their dividends multiply tenfold—from ₦536 million paid out in 2019 to a remarkable ₦7.58 billion in 2024. The company’s share price also witnessed unprecedented growth, and today, Transcorp Hotels Plc proudly stands as the first trillion-naira hospitality company on the Nigerian Exchange (NGX).
These historic feats were announced during the company’s Annual General Meeting, where shareholders were once again rewarded with record-breaking dividends of 74 kobo per share—up from just 7 kobo per share five years ago.
“This journey—almost five years as CEO and nearly two decades with HH and Transcorp Group—has been nothing short of extraordinary,” Olusola shared. “Leading, learning, innovating, and driving impact at this scale has been an honor.”
Her legacy? A company reimagined. A culture of excellence reignited. And a blueprint for resilient, values-driven leadership that many will aspire to follow.
As she gracefully exits the corporate stage at Transcorp Hotels, Olusola made it clear that this is not the end, but a new beginning. “As I step into my next chapter, I do so with excitement, purpose, and an unshakable commitment to excellence. The journey continues. The best is yet to come.”
With nearly two decades of distinguished service to the Transcorp Group and an indelible mark left on Nigeria’s hospitality industry, Dupe Olusola stands tall as one of Africa’s finest business leaders—a woman whose results speak volumes, whose vision transformed a crisis into triumph, and whose legacy is built to last.
We celebrate Dupe Olusola—trailblazer, innovator, and architect of one of the greatest corporate turnarounds in Nigerian hospitality history.
