Sunday, June 22, 2025
  • Share your story
  • About
  • Contact
Economy FootPrint
  • Home
  • News & Politics
  • Opinion
  • Finance & Economy
  • Aviation
  • Editorial
  • Transport & Blue Economy
  • Features | Analysis
  • Health | Environment
Economy FootPrint
Home Industry | Trade | Commerce

Transcorp Hotels Plc grows revenue N31.4bn in 2022

EconomyFoot Print by EconomyFoot Print
March 3, 2023
in Industry | Trade | Commerce, Top News
Reading Time: 2 mins read
0
Share on FacebookShare on Twitter

Transcorp Hotels Plc, Nigeria’s premium hospitality brand, has reported its financial results for full year 2022 with 172 percent profit before tax (PBT) growth and N31.4 billion revenue.
The financials showed that.the Group reported a profit before tax (PBT) of N4.5 billion, a 172 percent increase year-on-year, having ended 2021 with a PBT of N1.7 billion.
Transcorp Hotels Plc also reported a 47 percent growth in revenue to N31.4 billion in 2022 from N21.4 billion the previous year. The Group also reported a N2.6 billion profit after tax.

Commenting on the results, Dupe Olusola, Managing Director/CEO, Transcorp Hotels said “This impressive achievement is the highest revenue generated since the inception of the Company. The full-fledged return of the International Business Travel segment and the bolstering leisure segment contributed immensely to this performance. We continuously strive to achieve a dynamic mix of schemes to efficiently manage hotel occupancy and guest experience,” 

Related posts

Minister Orders NIHOTOUR To Halt Enforcement Actions Nationwide

June 22, 2025

MINISTRY OF ART, CULTURE, AND CREATIVE ECONOMY PRESENTS BUDGET PERFORMANCE REPORT TO NATIONAL ASSEMBLY

June 20, 2025

 

“Our excellent financial performance in 2022 is the direct result of our concerted efforts and commitment to deliver value to our stakeholders and customers. In 2023 and beyond, we will build on our strengths, stay agile; optimise our existing businesses, while identifying new opportunities.

“We remain committed to redefining hospitality in Africa through innovation and exceptional services as we unlock value for all our stakeholders,” Olusola added. 
Oluwatobiloba Ojediran, Chief Finance Officer, in her comments noted the company has continued to maintain its disciplined approach to financial management during the year under review.
” With the hike in costs of supplies caused by negative macro-climate, our continued efforts to drive cost efficiencies resulted in an improved net profit margin which doubled from 7% in 2021 to14% in the year 2022.
Our focus on strategic financial management remained beneficial, as we exercised firm discipline in capital allocation. We recorded about 2% increase in finance costs over the previous year despite the cessation of the previously enjoyed COVID-19 concessions on interest rate granted by lenders,” the CFO stated, adding that with strict adherence to the set strategies and financial discipline, the company will continue experience positive improvement in its performance in 2023.
Also highlighting some non-financial figures, Ojediran noted that Transcorp Hotels now has a combined 5000+ rooms, both in ownership and management through its online booking platform Aura by Transcorp Hotels. With Aura by Transcorp Hotels, users can book top quality hotels, unique homes and experiences from all parts of Nigeria. Aura by Transcorp Hotels is available on Google Play and Apple App store, and also on web via aura.transcorphotels.com.

Previous Post

CSR: Transcorp Power Staff School Holds 8th Biennial Inter-house Sports Competition

Next Post

Sirika lauds NiMets Efficient Use of Resources, Products Innovation

Next Post
Sirika lauds NiMets Efficient Use of Resources, Products Innovation

Sirika lauds NiMets Efficient Use of Resources, Products Innovation

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

CDS Receives DG FRCN, Says Media Critical To Military Operations

CDS Receives DG FRCN, Says Media Critical To Military Operations

12 months ago

Cybersecurity: A Bedrock of Operational Readiness – CAS

7 months ago

DBN Disburses N700bn to MSMEs in 7Yrs as women gets N420bn

1 year ago

Transcorp Hotels Plc grows revenue N31.4bn in 2022

2 years ago

FOLLOW US

  • 86.2k Followers

BROWSE BY CATEGORIES

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

BROWSE BY TOPICS

2023 Benue Budget Abuja-Kaduna Rail Access Corporation Access pension airports concession Aviation Ayu Benue Budget Benue Community Buhari Business CBN Central Bank Dana Air Economy FGPL Herdsmen Herdsmen attacks insecurity insurance Maritime Min of Transport MSMEs NAICOM NCAA Nigeria Nigeria -Cameroon Border Post Nigeria Air NRac Onne Port ooh Orrom Ortom PDP PenCom pension Railway Sambo Jaji Transcorp Transcorp Group Transcorp Hotels Plc UBA Ukohol Wike Wildon Ideva

BROWSE BY CATEGORIES

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

Economy Footprint

The EconomyFootprint is published by Ideas Tent Communications Ltd®. All Rights Reserved.

Follow us on social media:

Recent News

  • Minister Orders NIHOTOUR To Halt Enforcement Actions Nationwide
  • Embattled Agunloye Connived With A Firm That Impersonates SDP To Make False Appointments
  • NCAA Promotes Staff Healthiness, Productivity Through Sporting Activities– Director

Category

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

Recent News

Minister Orders NIHOTOUR To Halt Enforcement Actions Nationwide

June 22, 2025
Embattled Agunloye Connived With A Firm That Impersonates SDP To Make False Appointments

Embattled Agunloye Connived With A Firm That Impersonates SDP To Make False Appointments

June 22, 2025
No Result
View All Result
  • Home
  • Politics
  • News
  • Sports
  • Opinion