Transcorp Hotels Grows Revenue By 36% To N41.5bn In 2023

International news
Transcorp Hotels Plc, has posted a strong performance of 36 per cent Year-on-Year revenue growth for the year 2023. The Company’s audited 2023 full-year results released on the Nigerian Exchange showed outstanding performance and setting new revenue and profit records.

Transcorp Hotels reported a record-breaking revenue of N41.5 billion in 2023, compared to N30.4 billion in 2022, marking a substantial 36 per cent growth year-on-year, while operating income also grew by 50 per cent, to close at N13.1 billion as of December 2023, compared to N8.8 billion in December 2022.
The Company’s profit for the year grew by 133 per cent from N2.6 billion in December 2022, to N6.1 billion in December 2023.

Total Assets increased by five per cent from N120.5 billion in December 2022, to N126.1 billion in December 2023
Speaking on the Company performance, the managing director/CEO, Dupe Olusola stated that the Company’s exceptional performance was achieved through continued dedication to excellence, unparalleled guest satisfaction and a resilient spirit that defines its commitment to delivering exceptional service and stakeholder value.