The company’s latest financial results highlight continued growth momentum across its hotel and event operations, buoyed by higher occupancy rates, strong food and beverage sales, and an expanding hospitality portfolio.
Strong Nine-Month Performance
For the first nine months of 2025, Transcorp Hotels recorded a pre-tax profit of N22.4 billion, representing a 36.3% year-on-year increase. Revenue for the period surged to N72.3 billion, up from N48.4 billion in 2024, reflecting higher guest traffic and improved pricing across its business segments.
In the third quarter alone, revenue climbed 31.8% to N24.7 billion, underscoring the company’s ability to sustain growth amid Nigeria’s challenging business environment. Room sales remained the key driver, contributing N48 billion so far this year, while food and beverage operations generated N21 billion. Shop and event hall rentals added N1.3 billion and N1.1 billion, respectively.
Despite a modest increase in cost of sales to N5.8 billion, gross profit jumped 43.4% to N18.8 billion, highlighting improved operational efficiency. Operating profit for the quarter also rose sharply to N10.9 billion, up from N6.5 billion a year earlier.
Finance costs declined to N957.6 million, compared to N1.06 billion in Q3 2024, reflecting lower borrowings and intercompany loans. After accounting for income tax of N4 billion, net profit stood at N6.1 billion, marking a 69.6% increase from the same period last year.
Asset Growth and Strong Balance Sheet
On the balance sheet, total assets increased by 9.6% to N154.2 billion, driven largely by investments in property, plant, and equipment, which make up N122.8 billion of the total. Retained earnings rose to N70.4 billion from N63.2 billion as of December 2024, lifting shareholders’ equity to N88.2 billion.
Total liabilities climbed slightly to N66 billion, compared to N60.1 billion in the previous period, with trade and other payables accounting for N28.9 billion.
Management Attributes Growth to Efficiency and Service Quality
Commenting on the results, Emmanuel Nnorom, Chairman of Transcorp Hotels Plc, said the company’s performance reflects “disciplined cost management, operational excellence, and a steadfast focus on customer satisfaction.”
He added that the company remains committed to delivering sustainable growth and creating long-term value for its shareholders.
Managing Director/CEO Uzo Oshogwe said the strong results demonstrate Transcorp Hotels’ drive for excellence and its commitment to redefining hospitality standards in Africa. She noted that the recently opened 5,000-seat event center has positioned Nigeria as an emerging hub for major conferences and international events.
“With our strong asset base, dedicated workforce, and focus on innovation, we are well-positioned to sustain this growth trajectory,” Oshogwe said.
Investor Confidence Remains Strong
Reflecting investor confidence, Transcorp Hotels’ share price closed at N164.6 on October 20, 2025, up 41.9% year-to-date, making it one of the top-performing hospitality stocks on the Nigerian Exchange.
Analysts say the company’s consistent performance underscores the resilience of Nigeria’s premium hospitality segment and signals renewed confidence in the broader travel and tourism industry.