…Profit Before Tax expands to N3.3bn as the leading hospitality brand continues to redefine standards
Transcorp Hotels Plc has announced results for the nine months ended September 30, 2022, as it continues its impressive performance, maintain its position as a leading hospitality brand.
The company which owns Transcorp Hilton Abuja, Transcorp
Hotels Calabar and accommodation booking platform Aura by Transcorp Hotels,
reported a revenue growth of 55 per cent Year-on-Year to N22.7 billion for the
period under review, from N14.6 billion during the same period in 2021. Profit
Before Tax grew to N3.3 billion by the end of September 30, 2022, from N745
million during the same period in 2021.
The hospitality company, a subsidiary of Transnational
Corporation (Transcorp Group) also recorded an average occupancy of 78 per cent
at its flagship property, Transcorp Hilton Abuja during the first nine months
of 2022, outperforming industry average.
Managing Director/CEO of Transcorp Hotels, Dupe
Olusola,commenting on the results noted that, Transcorp Hotels Plc continues to
deliver and reinforce its position as Africa’s leading hospitality brand,
upholding its excellent services and tailored offerings to its guests and
stakeholders.
“We believe in providing excellent service and delivering
value to our guests and all stakeholders through innovation and in line with
our mission. Our International Business Traveller (IBT) and Group business
segments have continued to recover impressively, contributing more to our
overall growth. This performance did not go unnoticed, with Transcorp Hilton
Abuja winning the Africa’s Leading Business Hotel award for the eighth time in
eight years,” Mrs Olusola added.
The award by the travel industry’s most prestigious awards
programme World Travel Awards, was one of five awards won by the hotel in the
2022 edition of the awards.
Transcorp Hilton Abuja also won awards for Nigeria’s Leading
Hotel, Nigeria’s Leading Business Hotel, Nigeria’s Leading City Hotel, and
Nigeria’s Leading Hotel Suite (the Presidential Suite), winning in the five
categories it was nominated for. The hotel’s Zuma Restaurant also won the World
Luxury Restaurant Award for 2022.
“We never take our position for granted or rest on our
laurels.We continue to ensure that we deliver a strong performance to enable us
return value to our shareholders,” Mrs. Olusola added.
Also commenting on the result, Chief Finance Officer, Mrs.
Oluwatobiloba Ojediran noted that the Company has continued to strengthen its
operational efficiency to maximise gains.
“We recorded an impressive Revenue Per Available Room
(RevPAR) of N77,461 and an Average Daily Rate (ADR) of N99,052. Our earnings
per share grew 228.6 per cent to 23 kobo, from 7 kobo during the same period in
2021,”Mrs Ojediran said.
The Nigerian Exchange Group (NGX)-listed hospitality company
has continued to record impressive growth. The company, whose sights are set on
expansion is expected to deliver a world-class event centre at its Abuja
property in 2023 and also continue working on its property in Ikoyi, Lagos,
even as it locks in nation-wide expansion through its digital hospitality
platform Aura by Transcorp Hotels.
With Aura by Transcorp Hotels listing quality hotels and
apartments on the platform, and making booking of these verified properties
seamless, Transcorp Hotels is expanding its inventory, now close to 6,000 rooms
across owned properties and others listed on Aura by Transcorp Hotels.
Transcorp Hotels Plc. is one of Africa’s leading hospitality
companies, committed to redefining hospitality standards. Transcorp Hotels is
the hospitality subsidiary of Transnational Corporation Plc. (Transcorp Group).
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 and memorable lifestyle experiences.