Transcorp Hotels Grows Revenue To N22.41bn

Transcorp Hotels Plc, the hospitality arm of Transnational Corporation Plc, has recorded a strong start to the 2026 financial year, posting notable growth in both revenue and profitability for the first quarter ended March 31.

According to its unaudited financial results released on Friday, the company reported revenue of N22.41bn, marking a 9 per cent increase from the N20.64 billion posted in the corresponding period of 2025.

The performance reflects sustained demand and the company’s solid positioning within Africa’s hospitality sector, supported by a strategy focused on operational efficiency and long-term value creation.

Profitability also improved significantly, with Profit Before Tax rising by 15 per cent, while gross profit margins strengthened to 77 per cent, indicating improved cost management and operational discipline.

In a statement, the company said its first-quarter results demonstrate steady progress in executing its growth plans and maintaining high service standards across its operations.

“We continue to see encouraging momentum in our business, driven by disciplined execution and a clear focus on delivering quality service and sustainable returns,” the company said.

The Chief Finance Officer, Oluwatobiloba Ojediran, noted that the improved performance was achieved alongside enhanced operational efficiency.

He explained that the company successfully reduced its cost of sales margin from 25 per cent in the first quarter of 2025 to 23 per cent in the same period of 2026, reflecting tighter cost controls and improved operational processes.

Ojediran added that the company remains focused on balancing cost efficiency with maintaining premium service delivery for its customers.

Transcorp Hotels Plc, a key player in Nigeria’s luxury hospitality segment, continues to benefit from the strategic backing of its parent company, Transnational Corporation Plc, a diversified conglomerate with investments spanning power, energy, and hospitality.

With its strong first-quarter showing, the company is expected to sustain its growth momentum and reinforce its leadership position in the sector through the rest of the financial year.