ADVERTISEMENT
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Thursday, September 18, 2025
NewsOnline Nigeria
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
NewsOnline Nigeria
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
ADVERTISEMENT
Home Brands & Marketing

Transcorp Hotels Plc Delivers Strong Performance In 2023

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 NewsOnline Nigeria
April 2, 2024
in Brands & Marketing
0
Transcorp Hotels Plc

Transcorp Hotels Plc has delivered a strong performance in 2023.

 

NewsOnline Nigeria reports that Transcorp Hotels Plc (“Transcorp Hotels” or the “Company”), the listed hospitality subsidiary of Transnational Corporation Plc (“Transcorp Group”) has released its audited 2023 full-year results, showing outstanding performance and setting new revenue and profit records.

 

This Nigeria news platform understands that in its full year audited results filed with the Nigerian Exchange (NGX), Transcorp Hotels reported a record-breaking revenue of N41.5 billion in 2023, compared to N30.4 billion in 2022, marking a substantial 36% growth year-on-year, while operating income also grew by 50%, to close at N13.1 billion as of December 2023, compared to N8.8 billion in December 2022.

 

ALSO: Big Brother Naija (BBNaija) 2024 Season 9 Auditions For Dynamic Duos

 

HIGHLIGHTS OF THE RESULT:

 

  • The Company’s total revenue for the year ended December 31, 2023, was N5 billion, compared to N30.4 billion in December 31, 2022, signifying a 36% increase.
  • Operating Income grew by 50% from N8 billion in December 2022, to N13.1 billion in December 2023.
  • Profit for the year grew by 133% from N6 billion in December 2022, to N6.1 billion in December 2023.
  • Total Assets increased by 5% from N5 billion in December 2022, to N126.1 billion in December 2023

 

Dupe Olusola, Managing Director/CEO commenting on the results stated that 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 in our mission to continue exceeding expectations and setting new benchmarks in the African hospitality industry.

 

About Transcorp Hotels Plc:

 

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.

 

Transcorp Hotels Plc. is consistently reshaping the hospitality landscape in Africa, aligning with its mission to lead and contribute to Nigeria’s growth while positively impacting lives.

ADVERTISEMENT
Previous Post

BREAKING: Bassirou Faye Sworn In As Senegal’s President

Next Post

BREAKING: Dangote Pegs Minimum Of 1ml/Marketer As Diesel Sale Begins

Next Post
How Dangote Refinery Fire Began

BREAKING: Dangote Pegs Minimum Of 1ml/Marketer As Diesel Sale Begins

Trending Stories

Governor Soludo

Governor Soludo Rejects Ekwunife’s Apology Amid Infidelity Controversy

FCT Minister Wike

BREAKING: FCT Minister Wike Speaks On Tinubu’s Reinstatement Of Fubara

Governor Fubara

BREAKING: Governor Fubara’s Failure To Resume Fuels Tension In Rivers State

Gentle de Yahoo

Nigerian Army Captures IPOB Commander ‘Gentle de Yahoo’, Seizes Weapons and Rescues Kidnap Victims

Watch Viral Sex Video of Anambra Married Woman

Watch Viral Sex Video Of Anambra Married Woman With Husband’s Best Friend

Transcorp Hotels Plc

Transcorp Hotels Plc Delivers Strong Performance In 2023

Lagos

FG Issues Fresh Flood Warning for Lagos, Adamawa, and 12 Other States (FULL LIST)

CBN

BREAKING: CBN Gives Sweeping Directive To Banks On MD/CEOs, Top Executives Succession Plan

UBA

UBA Clarifies Broad Street Fire Incident, Confirms Headquarters Unaffected

Anambra’s Education Ranking

Anambra’s Education Ranking Plummets to 33rd, Raising Alarms Ahead of 2025 Elections

Latest Stories

FAAC

FAAC Distributes Record N2.22 Trillion to Three Tiers of Government for August 2025

UBA

UBA Reports N388.4 Billion Pre-Tax Profit in H1 2025, Declares Interim Dividend

Zenith Bank

Zenith Bank Reports N625.6bn Pre-Tax Profit in H1 2025, Declares Higher Dividend

Wike

Wike Dismisses Concerns Over Fubara’s Absence Amid Leadership Vaccum In Rivers

Governor Fubara

Is Rivers State on Autopilot? Governor Fubara Missing in Action After Six-Month Suspension

Passport

FG Unveils Centralised Passport Personalisation Centre to Slash Processing Time

Rivers State House of Assembly

Rivers State House of Assembly Resumes Plenary, Probes Financial Activities During Emergency Rule

Rivers Assembly

Rivers Assembly Orders Fubara To Submit Commissioner Nominees and Appropriation Bill

FCT Minister Wike

FCT Minister Wike Dismisses Health Rumours, Says Critics Will ‘Die Before Him’

Rivers Governor Fubara

ADC Slams Tinubu Over Suspension, Reinstatement of Rivers Governor Fubara

ADVERTISEMENT

NEWSONLINE NIGERIA

Get the Latest Naija News, Breaking News, Top Stories, World News, Business, Politics & Entertainment from NewsOnline Nigeria.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

ALERT US

Important Press Releases, Special Investigations: admin@newsonlineng.com

OFFICE ADDRESS

13 Poland Street, London, United Kingdom (UK)

Copyright © 2025 NewsOnline Nigeria

No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports

Copyright © 2023 Newsonline Nigeria