Hilton, Transcorp Hotels signs 20-year management extension agreement

HILTON and Transcorp Hotels Plc, a subsidiary of Transnational Corporation of Nigeria Plc (Transcorp Plc) have announced the signing of a 20-year extension to the current agreement to manage the iconic Transcorp Hilton hotel in Abuja.

The agreement will see Hilton manage the property until 2037. The hotel, which is a national landmark, having hosted countless heads of state and global events like the World Economic Forum on Africa, has been operated by Hilton since its opening in 1987.

Speaking at a signing ceremony in Washington DC, Chris Nassetta, Hilton’s President and CEO, said: “We have had an incredible relationship with the Transcorp team and we are happy to announce that we will continue to grow that relationship throughout the next 20 years. With our mission to be the world’s most hospitable company, I am delighted we will be able to continue welcoming guests to this hotel until at least 2037.”

The 667-room hotel is currently undergoing a multi-million dollar renovation which will transform the property. The extensive refurbishment will continue the Transcorp Hotels legacy as the leading provider of hospitality in Nigeria.

Tony O. Elumelu, Chairman of Transcorp Plc, the largest listed conglomerate on the Nigerian stock exchange and owners of hospitality subsidiary Transcorp Hotels, confirmed: “We are delighted to continue our long-standing owner-operator relationship with Hilton. Our investment in the renovation reflects our commitment to shaping Nigeria into a leading hospitality centre in the West Africa region and with Hilton as our operating partners, we are confident that we will continue to lead in the sector.”