Transcorp Hotels grows revenue by 55% to N22.7bn


Transcorp Hotels Plc has announced results for the nine months ended September 30, 2022, reporting revenue growth of 55 per cent year-on-year to N22.7 billion for the period under review, from N14.6 billion during the same period in 2021.

Profit before tax grew to N3.3 billion by the end of September 30, 2022, from N745 million during the same period in 2021.

The hospitality company, a subsidiary of Transnational Corporation (Transcorp Group), also recorded an average occupancy of 78 per cent at its flagship property, Transcorp Hilton Abuja during the first nine months of 2022, outperforming the industry average.

Dupe Olusola, the Managing Director/CEO of Transcorp Hotels,…

Source: Nigerian Tribune