Victor EzejaAs part of its measures to sustain performance in the hospitality industry in Nigeria, Transcorp Hotels, a subsidiary of Transnational Corporation Plc, has said it is focused on enhancing its digital platform called ‘Aura’, which revolutionizes how it drives bookings, engaging with guests, and generally generate more revenue.
Aura by Transcorp Hotels is a platform for connecting travellers to unique accommodations for memorable experiences. The digital platform currently has about 4,000 rooms across 88 Hotels and 490 apartments.
“The platform is also an avenue for people with unoccupied homes, hotels, restaurants, or different skill sets that may interest others to earn an income by becoming hosts,” the company added.
Managing Director/CEO of Transcorp Hotels Plc, Dupe Olusola, who spoke at the 2023 investors call conference that held virtually on Friday, said that this tech-driven initiative is one of the key drivers of growth that the company would focus on in 2024 to sustain performance amid dynamic trends in the hospitality space.
Speaking further on other growth drivers the company will focus on for sustainability, Olusola said they are working on upgrading their technology “to enrich the guest experience, offering contactless services and personalized offerings that cater to the unique preferences of each visitor, ensuring that our services are not just cutting- edge but also deeply personal.”
As part of cost optimisation efforts, she hinted that the company would engage in strategic sourcing and operational efficiency, adding “We are dedicated to managing expenses without compromising the quality that our guests have come to expect from us.”
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She also said the company’s projections for 2024 and beyond were to expand its frontier not only in Abuja, Lagos, but across the country and transit into major cities in Africa.
Olusola also disclosed that the company is pushing to deliver its 5-star hotel project in Ikoyi, Lagos, latest by 2027. Another project in the company’s kitty, according to her, is the conversion of an existing warehouse in Transcorp Hilton Abuja to a 3,000 – 5,000 capacity event/lifestyle centre to be ready before the end of 2024.
She expressed confidence that the company would sustain its performance in 2024 and beyond.
According to the company’s record of performance in the 2023 financial year, presented by the Chief Finance Officer (CFO), Oluwatobilola Ojediran, during the virtual event, 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. The operating income grew by 50 per cent from N8.8 billion in December 2022, to N13.1 billion in December 2023.
Its Profit Before Tax hit N9.482 billion (a 105 per cent growth) from N4.634 billion in 2022; while Profit After Tax rose to N6.093 billion (133 per cent increase) from N2.618 billion in the previous year.
The company’s total assets grew by 4.7 per cent from N120.487 billion in December 2022 to N126.1 billion in December 2023.
During the presentation, the CFO also highlighted the company’s commitment to sustainability as demonstrated by a couple of its Environment, Social and Governance (ESG) activities such as the “Tree planting initiative” to help promote a greener environment; recycling drive done in collaboration with other partners; sustainable waste management practices; supporting NGOs to raise funds for cancer patients; and Empowerment Program for Women among others.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
