Emmanuel Ochayi
In a feat, Transcorp Hotels Plc has secured its position among Nigeria’s market leaders by reaching a market capitalization of N1 trillion on the Nigerian Exchange Limited.
The hospitality giant, known for its returns, exhibited a 1,027% capital gain throughout 2023, surpassing other stocks on the exchange.
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With an impressive year-end stock price of N70.18 per share, Transcorp Hotels continued its upward trajectory into the new year, reaching N100 per unit on Monday.
This surge propelled the company’s market capitalization to N1.024tn, placing it in the prestigious league alongside esteemed entities such as Access Holdings, UBA, Zenith Bank, and Seplat Energy.
In its third-quarter report, Transcorp Hotels reported robust financial growth, boasting a 31.76% increase in revenue to N29.9bn and a 62% rise in profit to N5.5bn.
Managing Director/CEO, Dupe Olusola, attributed this success to the brand’s dedication to excellence and adaptability in meeting evolving guest preferences.
Transcorp Hotels now stands tall among Nigeria’s elite corporations, reflecting not only its resilience in the face of economic challenges but also its commitment to sustained excellence in the hospitality sector.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
