Prime Business Africa
Transcorp Hotels shares were the most sought-after by equity traders in the Nigerian Exchange (NGX) in the first quarter (Q1) of 2026, compared to its industry rival, Ikeja Hotel, which struggled to attract investors, according to Prime Business Africa’s (PBA).
This resulted in shareholders of Transcorp Hotels closing the period with a double-digit growth in their investments, while holders of Ikeja Hotel shares recorded a decline during the period under review.
According to Prime Business Africa’s analysis, the two companies — which are the only hoteliers in the bourse — have a combined market valuation of N2.16 billion as of March 31, compared to the N1.84 trillion recorded on January 2.
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At the start of the first quarter, Transcorp Hotels’ shares were priced at N170.90 kobo per share, but after three months, a share of the company was trading at N203, indicating strong investor confidence in the company’s growth prospects.
As equity traders were willing to acquire a share of Transcorp Hotels by N32.1 kobo more, the shareholders of the company saw their investments in the firm surge by 18.78 percent in the first three months of this year.
With the increase in share price making Transcorp Hotels’ shareholders richer by twofold, it added N328.78 billion to their combined investments, according to Prime Business Africa’s analysis.
In contrast, shareholders of Ikeja Hotel recorded a double-digit decline in their investments during the same period, as the company’s shares were not attractive to traders in the stock market compared to those of Transcorp.
Between January and March, the value of his investments held by Ikeja Hotel shareholders decreased by 13.14 percent as the stock market priced the firm’s share at a lower price of N39 on March 31.
Note that when trading commenced this year, equity traders exchanged Ikeja Hotel’s shares at N44.90 kobo, indicating investors were willing to trade the company’s shares at N5.9 kobo lower by the end of the first quarter.
This affected the shareholders of Ikeja Hotel, as over N12.75 billion was wiped off their combined investments in the first three months of this year, according to Prime Business Africa’s analysis.
It also led to the valuation of Ikeja Hotel dropping in the Nigerian stock market, as the company closed the first quarter with N84.33 billion, which is below the N97.09 billion the hotelier was valued at the start of 2026.
Although during the same period under review, Ikeja Hotel outperformed Transcorp Hotels in terms of operational activities, as the former’s topline and bottom line outstripped that of the latter.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
