Accomplished Managing Director and CEO of Transcorp Hotels Plc, Dupe Olusola has provided a glimpse into the strategies and vision that have propelled the company to remarkable heights in the hospitality industry. According to a report from Transcorp Hotels Plc, this was revealed in a recent Twitter Spaces interview. With a keen eye for trends and an unwavering commitment to delivering value to stakeholders, Olusola has guided Transcorp Hotels Plc through a journey of substantial growth and innovation.
During the interview hosted by Transcorp Group, Nigeria’s leading diversified conglomerate and the parent company of Transcorp Hotels Plc, Dupe Olusola emphasized the importance of identifying trends early and strategically leveraging them to create value. “We identify trends early and strategize to take full advantage while delivering maximum value to all our stakeholders,” she said. This proactive approach has been a driving force behind Transcorp Hotels’ ability to stay ahead in a dynamic market.
Olusola highlighted the remarkable achievements that the hotel group has accomplished under her leadership. Notably, the company achieved substantial revenue growth, with an impressive $67 million in 2022. This achievement underscores the effectiveness of the strategies implemented by the company to enhance its offerings and capture market opportunities.
500% Staggering Increase
The company’s stock price also witnessed a staggering increase of over 500%, a testament to the confidence that investors and stakeholders have in Transcorp Hotels’ trajectory. This substantial growth can be attributed to the continuous enhancement of service standards, expansion of the company’s portfolio, and the optimisation of operational efficiencies.
Transcorp Hotels’ commitment to delivering exceptional service standards has been a cornerstone of its success. Olusola emphasized that the company’s dedication to creating memorable guest experiences has played a pivotal role in building customer loyalty and contributing to its positive reputation within the industry.
Transcorp Hotels Portfolio Expansion
Another key aspect of Transcorp Hotels’ success has been the strategic expansion of its portfolio. The company’s ability to identify opportunities for growth and diversification has allowed it to cater to a wide range of guest preferences and needs. This expansion not only strengthens the company’s position in the market but also enables it to tap into new revenue streams. The company launched Aura 2.0, its refreshed online platform for booking homes, hotels, and experiences earlier in the year. Through the platform, Transcorp Hotels now have more than 5,000 rooms under management. The company is also developing a world-class 5,000-capacity Convention Centre at the premises of Transcorp Hilton Abuja which will further position the hotel to host both local and international conferences. In Lagos, Nigeria’s commercial capital, Transcorp Hotels Plc is working on the development of a new 315-room 5-star hotel facility which would deliver upscale hospitality to clients in the region.
Efficiency is crucial in any industry, and hospitality is no exception. Olusola discussed how the company has focused on optimising operational efficiencies to drive productivity and cost-effectiveness. By streamlining processes and harnessing technology, the company has been able to create a seamless experience for both guests and employees.
Olusola expressed her excitement for the future of Transcorp Hotels Plc. The company’s ability to adapt, innovate, and consistently deliver value places it in a strong position to navigate the ever-evolving landscape of the hospitality industry. With a visionary leader at the helm and a dedicated team driving its success, Transcorp Hotels Plc is poised to continue its upward trajectory, setting new standards of excellence in the world of hospitality.
In a dynamic and competitive industry, the success story of Transcorp Hotels Plc serves as an inspiring example of how strategic foresight, commitment to service, and a focus on innovation can lead to remarkable growth and impact. Under the guidance of Dupe Olusola, the company’s journey is one of continuous transformation and a testament to the power of effective leadership and visionary thinking.
49% Growth & N3.53 billion Profit in H1 2023
Meanwhile, last month Transcorp Hotels PLC had announced its exceptional financial results for the first half of 2023. The leading hospitality brand renowned for its commitment to excellence and unmatched guest experiences achieved a significant increase in revenue, soaring to N18.98 billion from N14.99 billion recorded in the same period of the previous year, showcasing a remarkable growth of over 27%. The company’s profit before tax also witnessed an impressive upturn, reaching N3.53 billion compared to N2.37 billion in H1 2022, marking a substantial growth of 49%.
Managing Director/CEO, Dupe Olusola, expressed her elation at the impressive growth achieved by the company in the first half of 2023. She stated, “At Transcorp Hotels, our primary focus has always been to create exceptional experiences for our guests, and these remarkable financial results reflect the hard work and dedication of our entire team. We remain committed to innovation and service excellence, continually raising the bar to redefine the hospitality landscape in Africa.”
Transcorp Hotels remains committed to delivering value consistently to all stakeholders, and these achievements further bolster the company’s position as a market leader and a symbol of excellence in the Nigerian hospitality industry. The company has continued to expand its business, launching Aura by Transcorp Hotels 2.0, its refreshed online platform for booking homes, hotels, and experiences. Through the platform, Transcorp Hotels now have more than 5,000 rooms under management.
The market has responded positively to the company’s performance in recent times, with the share price recording a 464.63% growth over the past year closing at N34.40 as at close of trading on Thursday, 27 July 2023.
“Exciting things ahead,” Olusola enthused. “We are optimistic about the future – for our industry and the economy. We believe that people will look more inwards for relaxation and leisure, and we are well suited for this.”