Transcorp Hotels’ total assets hit N140.70bn

Transcorp Hotels Plc total assets grew to ₦140.70 billion in 2024, marking a 12 percent increase from the ₦126.09 billion recorded in the previous year.

The company also achieved impressive gross revenue of ₦70.13 billion for 2024 financial year, reflecting a remarkable increase from the prior year’s figure of ₦41.46 billion, building on its strong foundation to deliver an exceptional performance.

The growth underscored the effectiveness of the Hotel’s strategy to optimise pricing models and deliver consistent value to its guest.

This was disclosed at the 11th Annual General Meeting (AGM) on Thursday in Abuja, where the shareholders approved the Board of Directors proposal of final divided of 64 Kobo per share or ₦6.56 billion for FY 2024.

The shareholders’ approval at the AGM brings the full dividend to 74 Kobo per share or ₦7.57 billion, having paid an interim dividend of 10 Kobo per ordinary share paid at half-year 2024, affirming the company’s dedication to creating sustainable value for shareholders.

Transcorp Hotels PLC’s ability to adopt ensured that it capitalised on market opportunities, even in the face of persistent inflation and fluctuating exchange rates, growing Profit before tax to ₦22.61 billion, representing 138 percent year-on-year.

The stock price performance was equally outstanding, rising by 65 percent to close at ₦116 on December 31, 2024, affirming the company’s position as the most attractive stock on the Nigerian Stock Exchange (NGX), a testament to investor confidence in the company’s growth trajectory and of prospect.

Commenting on the company’s performance, Emmanuel Nnorom, Chairman, Board of Directors pledged to consolidate on the achievements recorded, and break new grounds.

“As we celebrate these achievements, we look forward to building on this success and continuing to set new benchmarks for excellence in the hospitality industry. Our dedication to upholding our core values ensures that we remain a symbol of innovation, resilience, and world-class service for years to come,” Nnorom said.

The Managing Director/CEO, Uzoamaka Oshogwe said the past year has been one of resilience, adaptability, and bold decision making, reinforcing the company’s position as a leader in Nigeria’s and Africa’s hospitality sector.

“As we step into 2025, we reaffirm our promise to innovate, personalise, and exceed your expectations at every touch point,” Oshogwe said.

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