Tag: Transcorp Hotels

Exactly 12 months after Uzoamaka Oshogwe mounted the saddle as the Managing Director/CEO of Transcorp Hotels Plc, the received wisdom out there is that the woman who sits atop one of the major players in the nation’s hospitality subsector is that she has indeed raised the bar in nearly all parameters.

Oshogwe, whose appointment was announced by the Board of Directors of Transcorp Hotels in December 2024, assumed her new role on January 1, 2025, at the hospitality subsidiary of Transnational Corporation Plc, and has not looked back ever since.

The Transcorp Hotels boss, who brings a wealth of experience spanning over 30 years in leadership, business transformation, and strategic management as a seasoned executive with a proven track record of delivering exceptional results, has reportedly steered the hospitality behemoth into an exciting new chapter of growth and expansion.

With her experience developing large-scale luxury projects, Oshogwe’s resumption, according to stakeholders, has marked a significant milestone in the journey of Transcorp Hotels Plc as it continues to uphold its legacy of redefining excellence in the Nigerian hospitality industry.

Since assuming office, Oshogwe has delivered a defining period of transformation for Nigeria’s leading hospitality company. This strong leadership foundation has been instrumental in shaping the strategic direction and performance of Transcorp Hotels Plc under her stewardship.

One of the most striking achievements of Oshogwe’s tenure has been the company’s robust financial growth, driven by operational efficiency, revenue diversification, and disciplined execution.

In Q1 2025, Transcorp Hotels Plc reported ₦21.0 billion in revenue, representing a 52% increase year-on-year, a performance widely acknowledged as evidence of strong market demand and effective leadership.

The momentum accelerated in the first half of 2025, with revenue rising 60% year-on-year to ₦47.57 billion. Gross profit surged by 71%, underscoring improved margins and cost optimisation. The company also approved an interim dividend exceeding ₦1 billion (10 kobo per share), reinforcing its commitment to delivering tangible returns to shareholders.

By Q3 2025, revenue had reached ₦72.31 billion, reflecting a 49% year-on-year increase, while Profit Before Tax rose by 36% to ₦22.4 billion. Gross profit margins expanded to an impressive 76%, highlighting sustained operational excellence and strong service delivery across the portfolio.

Collectively, these results have strengthened Transcorp Hotels Plc’s reputation as one of the most financially resilient and high-performing hospitality companies on the Nigerian Exchange.

Experts view Transcorp Hotels Plc’s fortunes positively, citing strong revenue growth, increased profitability (especially in Q3 2025), improved margins, and strategic management, driven by booming Nigerian hospitality demand, efficient operations at Transcorp Hilton Abuja.

Analysts expect the company to capitalise on Nigeria’s economic growth, with projections for continued strong performance in leisure, business travel, and events.

Her first year in office has been marked by exceptional financial performance, strategic asset activation, global recognition, and strengthened shareholder value, firmly positioning Transcorp Hotels Plc as a dominant force in Africa’s hospitality and MICE landscape.

Before her appointment, she served as Managing Director/CEO of Afriland Properties Plc, where she led landmark real estate developments and portfolio expansion.

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Her career includes senior leadership roles at United Bank for Africa Plc and Accenture UK, equipping her with deep expertise in strategy, operations, and transformation. Academically, she holds a B.Sc. in Chemistry from Ambrose Alli University, an MSc in Information Systems Design from the University of Westminster, London, and a professional certificate in Real Estate Management from Harvard Business School. She is also an RICS-accredited Civil and Commercial Mediator, a Fellow of the Institute of Management Consultants, and an alumna of Lagos Business School and IESE Business School, Spain, having completed both institutions’ Advanced Management and Chief Executive programmes.

Under Oshogwe’s leadership, Transcorp Hotels Plc has received extensive local and international recognition, further validating its market leadership and service excellence.

In 2025, the company was recognised by Statista, in collaboration with the Financial Times, as one of the fastest-growing companies in Africa, while Africa Business Magazine listed Transcorp Hotels Plc among Africa’s Top 250 Companies.

At the prestigious Seven Star Luxury Awards in Portugal, the company secured triple honours, winning Best Luxury Business Hotel (Nigeria & Africa) for Transcorp Hilton Abuja, Best Luxury Events and Conference Centre (Nigeria & Africa) for the Transcorp Centre, and Best CEO of the Year, awarded to Uzoamaka Oshogwe for her transformational leadership.

Further reinforcing its dominance, Transcorp Hilton Abuja clinched five major titles at the World Travel Awards 2025, including Nigeria’s Leading Business Hotel, Nigeria’s Leading City Hotel, Nigeria’s Leading Hotel, Nigeria’s Leading Hotel Suite, and Africa’s Leading Business Hotel.

Additionally, Transcorp Hotels Plc was named Hospitality Company of the Year at the Independent Newspapers Awards, recognising its outstanding growth, profitability, and strategic execution.

A landmark achievement during Oshogwe’s tenure has been the completion and commissioning of the 5,000-seat Transcorp Centre, a  purpose-built events and conference facility. The Centre significantly expands the company’s footprint in the Meetings, Incentives, Conferences, and Exhibitions (MICE) segment, positioning Nigeria as a competitive global conference destination.

Within its first year of operation, the Transcorp Centre successfully hosted major international events, including the 2025 Afreximbank General Meetings, which attracted heads of state, policymakers, global investors, and industry leaders. This milestone validated the Centre’s capacity to host complex, high-level global engagements and reinforced Transcorp Hotels Plc’s leadership in the premium MICE market.

Beyond operational and brand achievements, Oshogwe’s leadership has continued to unlock value for shareholders through sustained profitability, dividend growth, and strategic asset optimisation. Transcorp Hotels Plc’s earlier entry into the ₦1 trillion market capitalisation club on the Nigerian Exchange remains a defining indicator of investor confidence and long-term value creation.

In just one year, Oshogwe has firmly established herself as a transformational leader, delivering strong financial results, global recognition, and strategic expansion for Transcorp Hotels Plc. Her tenure to date reflects a compelling blend of vision, execution, and excellence: positioning the company for sustained growth and reinforcing its prominence on both the African and global hospitality stage.

Transcorp Hotels Plc yesterday released its financial results for the third quarter, showing double-digit growths across group revenue and profitability.

Key extracts of the interim report and accounts for the nine-month period ended September 30, 2025 released at the Nigerian Exchange (NGX) indicated that Transcorp Hotels’ revenue rose by 49 per cent while pre-tax profit grew by 36 per cent.

Total revenue rose to N72.31 billion in third quarter 2025 as against N48.49 billion recorded in third quarter 2024. Gross profit increased from N34.33 billion to N55.06 billion. Profit before tax grew by 36 per cent from N16.44 billion to N22.4 billion. After taxes, net profit stood at N14.82 billion in third quarter 2025 as against N10.24 billion in comparable period of 2024. Earnings per share thus increased from N1 to N1.45.

Chairman, Transcorp Hotels Plc, Emmanuel Nnorom, said the strong performance in the third quarter reflected Transcorp Hotels’ sustained focus on operational excellence, cost efficiency, and customer-centric innovation, reinforcing its leadership in Nigeria’s hospitality sector.

According to him, with a future-ready growth strategy anchored on sustainability and innovation, the company continues to unlock exceptional value for shareholders.

He said: “This impressive third quarter performance underscores our time-tested strategy focused on cost discipline, operational efficiency, and putting the customer at the heart of everything we do.”

We remain committed to delivering sustainable profitability and long-term value for our investors”.

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Managing Director, Transcorp Hotels Plc, Uzo Oshogwe, noted that with its iconic hospitality assets and dedicated team, Transcorp Hotels has continued to strengthen its leadership in the sector, setting new standards for growth, innovation, and service excellence

“Our third quarter 2025 results reflect our unwavering drive for excellence and our commitment to redefining hospitality in Africa. With the success of our newly commissioned 5,000-seat event centre, we are proud to be positioning Nigeria as the preferred destination for global conferences and events, while scaling sustainable value for our shareholders,” Oshogwe said.

She pointed out that the company had recently won three awards at the globally renowned Seven Star Luxury Awards, including “Best Luxury Business Hotel (Nigeria & Africa)”, “Best Luxury Event and Conference Centre (Nigeria & Africa)” and “Best CEO of the Year”.

Transcorp Hotels Plc rode on the back of improved market share to grow its top-line to N21 billion in the first three months of this year, raising optimism that the hospitality group could set a record performance this year.

Key extracts of the interim report and accounts of Transcorp Hotels Plc for the three-month period ended March 31, 2025 released at the Nigerian Exchange (NGX) showed that total revenue rose to N21 billion in first quarter 2025 as against N13.8 billion in comparable period of 2024, representing an increase of 52 per cent.

The report indicated appreciable improvement in operating efficiency with cost of sales margin improving from 28 per cent in first quarter 2024 to 25 per cent in first quarter 2025, implying a gross profit margin of 75 per cent for first quarter 2025.

With higher margin, gross profit grew by 59.6 per cent from N9.92 billion to N15.84 billion. Profit before tax also increased to N6.16 billion compared with N6.09 billion recorded in comparable period of the previous year. The 2025 performance represented a major improvement when taken into consideration exceptional N2.9 billion foreign exchange (forex) gain that boosted pre-tax profit in first quarter 2024.

Managing Director, Transcorp Hotels Plc, Uzo Oshogwe said the strong growth in revenue underlined the group’s enhanced operational performance.

She noted that with the recent completion of its new event centre, the company is well-positioned to unlock additional revenue streams and drive further profit growth—reinforcing Transcorp Hotels’ leadership in Nigeria’s hospitality sector and creating long-term value for shareholders.

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Oshogwe pointed out that Transcorp Hotels achieved a notable improvement in gross profit margin, despite a challenging macroeconomic environment marked by rising inflation and increased operating costs.

She added that the solid performance highlighted the underlying strength of the group’s operations and its ability to deliver value, even in a less favourable macroeconomic environment.

“Our first quarter 2025 results demonstrate the underlying strength of our business and the effectiveness of our strategic focus on driving revenue growth. The significant increase in revenue and the impressive profit margin growth are clear indicators of the hard work and dedication of our team.

“We recently added Transcorp Centre, a 5,000-capacity event space, to our expanding assets, including the iconic Transcorp Hilton Abuja, as we continue to solidify our position as a leader in the African hospitality landscape,” Oshogwe said.

Shareholders of Transcorp Hotels Plc, a subsidiary of Transcorp Group, yesterday approved a N7.57 billion dividend payout for the 2024 fiscal year. The approval came during the company’s 11th Annual General Meeting (AGM).

The company’s shares yesterday witnessed a surge in its share price, climbing by 7.13 per cent to close at N145 per share at the close of trading on the Nigerian Exchange (NGX).

This gain followed the company’s shareholders approved N7.57 billion dividend payout for the 2024 fiscal year.

The approved dividend payout, which contributed to the heightened investor confidence, amounted to a final dividend of 64 kobo per share, following an interim dividend of 10 kobo per share paid earlier in the year, reflecting the company’s strong financial performance and commitment to delivering shareholder value.

The AGM also provided shareholders with a comprehensive overview of Transcorp Hotels Plc robust financial results for 2024. The company reported revenue of N70.13 billion, a 69per cent increase over the N41.46 billion recorded in 2023. Profit Before Tax (PBT) soared by 138per cent, reaching N22.61 billion, further underscoring the company’s strong financial position.

The company’s stock price surged by 65per cent in 2024, closing the year at N116 per share. The price jump positions it as one of the most attractive stocks on the Nigerian Stock Exchange (NGX), with the latest gain further reinforcing this.

Chairman, Transcorp Hotels Plc Board of Directors Emmanuel Nnorom attributed the growth to strategic pricing models, effective cost management, and an unwavering commitment to enhancing guest experiences.

 “Our performance in 2024 has been nothing short of stellar. The company’s ability to adapt and capitalize on market opportunities, even amidst persistent inflation and volatile exchange rates, speaks volumes about the strength of our operational strategies.”

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Managing Director/CEO Uzoamaka Oshogwe said revenue growth was fueled by sustained demand in international and corporate travel, a strong rebound in the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector, and dynamic performance in the leisure market.

 “This significant growth is particularly commendable given the persistent macroeconomic headwinds,” Oshogwe said.

 “Our ability to navigate these challenges and achieve such robust results underscores the effectiveness of our business model and strategic approach.”

The Board of Transcorp Hotels had assured its shareholders of continued improvements in dividend payouts.

Nnorom expressed confidence in the company’s ability to sustain its impressive financial performance.

He stated that for the 2024 financial year, Transcorp Hotels Plc paid an interim dividend of 10 kobo and subsequently approved a final dividend of 64 kobo, bringing the total payout to 74 kobo per share.

This marks a significant increase from the 20 kobo paid in 2023, reflecting a 270 percent growth. Mr. Nnorom assured shareholders that the group, including Transcorp Hotels, Transcorp Power, and Transcorp Plc, consistently returns dividends to its investors.

“Transcorp Hotels Plc has demonstrated resilience in navigating economic challenges such as inflation and currency fluctuations. The company recorded a profit before tax of N22.61 billion, representing a 138 percent year-on-year increase,” he said.

Additionally, its stock price saw a remarkable 65 percent rise, closing at N116 on December 31, 2024, positioning the company as one of the most attractive stocks on the Nigerian Stock Exchange (NGX).

Mr. Nnorom assured shareholders that the company would sustain its strong performance while expanding investments across various sectors. Among its notable projects is a newly opened 5,000-seater capacity event center, the largest in Nigeria, which is expected to generate additional revenue through venue rentals, catering, and accommodation services.

He also mentioned plans to expand the Transcorp Hotel in Lagos and add more rooms to the Abuja property, which currently operates with 670 rooms and maintains an average occupancy rate of 84 per cent annually.

Nnorom also spoke about the company’s strategy of prioritizing workforce development by equipping employees with necessary skills and tools to thrive in an increasingly competitive industry. Investments in digital transformation have also enhanced service delivery, allowing Transcorp Hotels Plc to offer personalized and seamless guest experiences.

The company is adopting advanced personalization strategies, leveraging artificial intelligence (AI) and data analytics to tailor guest experiences. Industry research indicates that such initiatives can improve guest satisfaction by 36 percent and significantly enhance customer loyalty. By implementing these strategies, Transcorp Hotels Plc aims to deepen guest engagement and encourage repeat visits.

Sustainability Nnorom added remains a focal point in the company’s operations, aligning with global trends favoring environmentally responsible practices.

Quoting a 2024 survey by Booking.com, which says over 78 per cent of global travelers prefer accommodations that actively embrace sustainability. Transcorp Hotels Chairman in response said: “Transcorp Hotels Plc has integrated renewable energy solutions, including solar power and energy-efficient systems, reducing its carbon footprint by an estimated 25 per cent.

“The company has also adopted regenerative practices such as supporting local ecosystems and sourcing organic, locally grown produce to enhance environmental stewardship.”

Transcorp Hotels Plc, the hospitality subsidiary of Transcorp Group, has recorded N70 billion revenue, for the 2024 financial fiscal year.

In the Company’s latest audited results, submitted to the Nigerian Exchange (NGX), Transcorp Hotels recorded a 69 per cent increase in revenue and 144 per cent growth in Profit After Tax underscoring the Company’s drive for operational excellence and the execution of its strategic growth initiatives.

Key financial highlights showed the company has over the years built and maintained a healthy debt capacity and creditworthiness.

 The gearing ratio improved from 17.48 per cent achieved in 2023 to 9.30 per cent in 2024, due to the consistent principal repayment of third-party loans.

The return on assets increased from 4.83 per cent in 2023 to 10.59 per cent in 2024 financial year.

In line with its commitment to enhancing shareholder value through dividend payment, the Board of Directors has proposed a final dividend of 64kobo for the 2024 financial year, which if approved by the Shareholders at the Company’s Annual General meeting, will bring the full dividend to 74kobo, having paid an interim dividend of 10k paid at half-year 2024.

This action reaffirms the Company’s dedication to creating sustainable value for shareholders.

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Chairman of Transcorp Hotels, Emmanuel Nnorom, in his comments highlighted the Company’s commitment towards maximising shareholder value. “We remain deeply committed to enhancing shareholder value and delivering strong returns to our investors, ensuring that Transcorp Hotels continues to set the standard for hospitality excellence. The hospitality sector continues to be a vital contributor to Nigeria’s economy, and we are proud of Transcorp Hotels’ role in shaping the industry’s future.”

Commenting on the performance, the Managing Director/CEO of Transcorp Hotels, Uzo Oshogwe, emphasized the Company’s commitment to innovation, exceptional service and continuous growth. “Thanks to the dedication and passion of our teams, 2024 was a year of strong growth and significant milestones. Despite the inflation and other macro-economic challenges, we remain focused on delivering outstanding hospitality experiences, expanding our offerings, and implementing a strategy that unlocks the full potential of our business for all stakeholders.”

A key highlight for Transcorp Hotels is the completion of its new 5,000-capacity event centre, which is proving to be a game-changer in the hospitality and event hosting landscape. The state-of-the-art facility further strengthens the hotel’s ability to cater to large-scale conferences, exhibitions, and social events, solidifying its position as the preferred destination for business and leisure travellers.

Transcorp Hotels Plc, the hospitality subsidiary of Transcorp Group has recorded N48.49 billion revenue in its third quarter results for the period ended September 30, 2024.

The performance represents 67 per cent revenue growth from N28.97 billion in third quarter of 2023. The company also showed strength with 192 per cent increase in profit before tax from N5.64 billion in the third quarter of last year to N16.44 billion in third quarter of this year.

The revenue growth was driven by strategic pricing initiatives and robust sales efforts across all business segments, with a particular emphasis on the targeted Group and International Business segments.

The company demonstrated prudence in resources management as its operating expenses margin improved year-on-year by 4 percentage points, a testament to the company’s dynamism in navigating market landscapes.

The outstanding results posted by the Company not only highlight its resilience, it also demonstrates its unwavering commitment to delivering consistent value through strategic focus on enhancing customer experience, driving operational efficiency, and fostering innovation in service delivery.

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Other key highlights showed that profit after tax increased by 146 per cent to N10.24 billion from N4.07 billion recorded in third quarter of last year. The occupancy rate grew to 83 per cent in third quarter of      2024 from 79 per cent in third quarter of last year.

Furthermore, revenue per Available Room (RevPAR) grew by 64 per cent from N106,244 in third quarter of last year 2023 to N174,376 in third quarter of 2024.

Managing Director/CEO, Transcorp Hotels Plc, Dupe Olusola, commented on the results:  “Transcorp Hotels Plc is proud to maintain a remarkable growth trajectory, reflecting our unwavering commitment to enhancing shareholder value. Our award-winning customer service and exceptional properties position us as the premier gateway to Nigeria’s rich hospitality and cultural experiences.

Speaking of the results, Chief Financial Officer, Transcorp Hotels Plc, Oluwatobiloba Ojediran, stated: “We are pleased with the excellent performance achieved in the third quarter of 2024. The steady improvement in our operating expense margin, along with significant total profit growth, highlight the resilience of our business model and the effectiveness of our cost management strategies. Our unwavering commitment to financial discipline and operational excellence has been instrumental in sustaining our growth trajectory, even in the face of rising inflation and other economic challenges”.

“In the coming weeks, we will unveil another landmark addition to our flagship brand, further expanding our offerings. This is line with our mission to redefine hospitality in Africa. We remain steadfast in our dedication to delivering value to our stakeholders.”

Managing Director, Transcorp Hotels Plc, Dupe Olusola, has been inducted into the Seven Stars Pantheon of Hospitality and awarded the Seven Stars Woman of the Year 2024, making her only the second recipient of this esteemed honour in the 12-year history of the awards.

The recognition celebrates Olusola’s outstanding leadership and transformative impact on the African hospitality industry. Earlier in the year, Olusola was honoured with the Hospitality Leadership Award by the Africa Hospitality Investment Forum (AHIF).

Under Olusola’s visionary leadership, Transcorp Hotels Plc has become synonymous with innovation and excellence. Her dedication to elevating hospitality standards in Nigeria and across Africa is evidenced by the numerous accolades the company continues to receive.

Transcorp Hilton Abuja, the flagship property of Transcorp Hotels Plc, won Best Luxury Hotel Nigeria and Best Luxury Business Hotel – Africa, further cementing its status as a leader in luxury hospitality.

Reflecting on the honours, Dupe Olusola said, “I am deeply honoured and humbled to be recognized among the leading voices in global hospitality. This award represents the hard work, passion, and commitment of the entire Transcorp Hotels team to redefine what it means to deliver luxury in Africa. It is a shared success, and it inspires us to continue our mission to redefine hospitality in Africa”.

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The Seven Stars Woman of the Year Award is one of the most coveted recognitions in the hospitality industry, awarded to leaders who demonstrate excellence, innovation, and a commitment to pushing boundaries. Olusola’s induction into the Seven Stars Pantheon of Hospitality recognizes her remarkable achievements and the positive impact of her leadership in driving Transcorp Hotels’ impressive growth trajectory.

Khalil El-Mouelhy, Chairman, President & Founder of the Seven Stars Luxury Hospitality and Lifestyle Awards, remarked, “Tonight’s ceremony is a celebration of the innovation and dedication that defines our industry. We are proud to recognize those who are setting new standards in luxury hospitality.”

Honorary Chairman Andrea Luri added, “The Seven Stars Awards represent a global network of exceptional hospitality. It is inspiring to see such a diverse array of talent being celebrated tonight, affirming the importance of collaboration and excellence across borders.”

Transcorp Hotels Plc, the hospitality subsidiary of Transcorp Group has reported its half-year 2024 results.

The results showed continuous exponential growth with revenue rising 61 per cent to N29.7 billion when compared to the past year.

Its profit grew  to N10.5 billion, a 192 per cent growth over the N3.6 billion recorded in 2023.

The company is rewarding shareholders with an interim dividend of N1.02 billion at 10 kobo for every 50 kobo ordinary share, subject to appropriate withholding tax and approval.

Managing Director, Transcorp Hotels Plc, Dupe Olusola,  in her comments said the company continues to deliver excellently on its record first quarter financial results, and further driving its second-quarter performance to new levels, achieving a combined strong half-year performance, with 61 per cent revenue growth, setting another performance record.

“Revenue Per Available Room increased nearly 60 per cent compared to the first half of 2023 due to an increase in both group and transient demand at our flagship property, Transcorp Hilton Abuja, even as our leisure business continues to wax stronger,” Dupe Olusola stated. 

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“As we continue to combine our high standards with operational excellence, execution, exceptional guest experience and consistent financial discipline, we are confident in our ability to keep growing in line with our strategic objectives and delivering long-term value to all our stakeholders.”

“We are excited about the launch of our upcoming 5,000-capacity event centre later this year,” Dupe Olusola added.

This world-class development is expected to attract both regional and international events to Abuja, positioning Nigeria to get more share of the global Meetings, Incentives, Conferences and Exhibitions (MICE) industry estimated at $802.59 billion in 2023, thereby contributing to the nation’s economic growth.

Chairman, Board of Directors, Emmanuel Nnorom,  stressed that the company’s exceptional performance in the first half of the year underscores its resilience and strategic foresight in navigating the dynamic hospitality landscape.

He added, “The interim dividend is a testament to our robust financial health and our unwavering commitment to rewarding our investors. It also signifies confidence in our growth trajectory

“As we look ahead, we are confident that Transcorp Hotels will continue to thrive, setting new industry benchmarks in line with our mission of redefining hospitality in Africa.”