By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Transcorp Hotels Plc Records Exceptional Revenue Growth in 2022, Reports 47% Increase
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Featured

Transcorp Hotels Plc Records Exceptional Revenue Growth in 2022, Reports 47% Increase

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: April 5, 2023
Share
4 Min Read
SHARE

Transcorp Hotels Plc, the hospitality subsidiary of Transcorp Group, has announced an outstanding financial performance for the 2022 financial year.

The company reported a profit before tax (PBT) of N4.5 billion, representing a 172 per cent rise year-on-year, compared to a Profit Before Tax of N1.7 billion in 2021.

The leading hospitality brand also reported a 47 per cent growth in revenue to N31.4 billion in 2022.

Dupe Olusola, Managing Director/CEO Transcorp Hotels Plc, attributed the impressive results to the full-fledged return of the company’s International Business Travel segment and the continued strong leisure demand.

- Advertisement -

“The excellent financial performance we achieved in 2022, despite adverse economic conditions, is as a result of the detailed execution of our strategy, our out of the box approach, our nimbleness and unswerving commitment to delivering value to all our stakeholders,” she said.

The Chairman of the Board of Directors, Emmanuel Nnorom, announced a total dividend payment of N1.33 billion at 13 kobo per share, stating that the company closed the 2022 financial year strongly.

“Our continued focus on strategic financial management remained beneficial, as we exercised firm discipline in capital allocation, making swift investment decisions and capturing all economic upsides,” Nnorom added.

Transcorp Hotels Plc has continued to invest for the future through strategic expansion. The company is developing a world-class event center at the Transcorp Hilton premises in Abuja and another development, Transcorp Hilton Ikoyi, is expected to commence in Lagos soon.

- Advertisement -

The company has also expanded in Nigeria through its online booking platform Aura by Transcorp Hotels, with over 5,000 keys now in Transcorp Hotels’ portfolio, both in ownership and management.

“The company would continue to drive key investments in innovation and cost efficiency, including hospitality tech to improve our competitive advantage in the industry through sustainable and cost-effective strategies,” Nnorom said.

“In staying true to our key strategic thrust of sweating our existing assets to support business expansion, we will continue to deepen our market share, while maintaining the highest service standards in line with our mission.”

The shareholders at the meeting commended the management of Transcorp Hotels Plc for the superlative performance recorded in 2022, while also appreciating the myriad of awards in 2022 as testament to its leadership and quality of its offerings as Africa’s leading hospitality provider.

The Nigerian Exchange Group (NGX)-listed hospitality brand has continued to reinforce its position as a leader in the industry, winning 16 awards in 2022, including five World Travel Awards won by Transcorp Hilton Abuja and the most Outstanding hospitality brand of the year won by Transcorp Hotels Plc.

Transcorp Hotels Plc is one of Africa’s leading hospitality companies, committed to redefining hospitality standards.

The company’s hotels include the award-winning Transcorp Hilton Abuja and Transcorp Hotels Calabar. It also owns Aura, an online platform for booking accommodation, food, and memorable lifestyle experiences.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Transcorp Hotels Plc
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Senate Urges FG to Bring Remains of Ex-Senate President for Proper Burial
Next Article Abdul Samad Rabiu Abdul Samad Rabiu Surges up Forbes 2023 Billionaire List, Closing in on Third Richest African

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Mike Ejeagha
Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95
News
Tinubu Welcomes Gov Eno to APC as Political Realignments Intensify Across States
Politics Top stories
Super Eagles Rally to Draw Against Russia in International Friendly
Sport
Manchester United Raises Annual Core Profit Forecast to Between £180m and £190m After Europa League Boost
Sport
Ange Postecoglou
Tottenham Hotspur Part Ways with Ange Postecoglou Despite Europa League Glory
Sport
- Advertisement -
Ad imageAd image

You May Also Like

News

Dangote Names Main Refinery Access Road “Bola Ahmed Tinubu Road” in Honor of President

Muhammad A. Aliyu
Muhammad A. Aliyu
June 6, 2025
L-R: Ify Okoye, Digital Creator; Linda Ejiofor-Suleiman, Actress; Stella Erebor, Head Internal Audit, Nigerian Communications Commission; Emanuella Samuel, Comedienne/Actress, Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET), Meta, and Nicole Chikwe, founder of The Mummy Summit, during the launch of Instagram teen accounts in Lagos on Wednesday, June 4, 2025
Tech

Meta Launches Teen Accounts on Instagram in Nigeria to Enhance Online Safety for Young Users

Farouk Mohammed
Farouk Mohammed
June 6, 2025
News

President Tinubu and Top Officials Attend Eid-el-Kabir Prayers in Lagos, Emphasize Peace and Progress

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?