Hot Source•Seek to prioritise cost optimisation, service innovation
James Emejo in Abuja
Shareholders of Transcorp Hotels Plc, yesterday, okayed the sum of N7.57 billion as dividend for the 2024 financial year.
The board had proposed a final dividend of 64 kobo per share or N6.56 billion for the period under reviews.
In addition, an interim dividend of 10 kobo per ordinary share, paid at half-year, brought the full dividend to N7.57 billion or 74 kobo per share.
Speaking at the 11th Annual General Meeting (AGM) of Transcorp Hotels Plc, Chairman, Transcorp Hotels, Mr. Emmanuel Nnorom, said the dividend payments reaffirmed the company’s dedication to creating sustainable value for shareholders.
Nnorom said the year was defined by significant increase in revenue generation, cost management, and market positioning, demonstrating the company’s unwavering commitment to sustained growth and shareholder value creation.
According to him, the company achieved an impressive gross revenue of N70.13 billion, reflecting a remarkable increase compared to N41.46 billion in 2023.
Nnorom told shareholders that the growth underscored the effectiveness of management’s strategy to optimise pricing models and deliver consistent value to guests – as well as its ability to adapt, capitalising on market opportunities in the face of persistent inflation and fluctuating exchange rates.
The company recorded a profit before tax (PBT) of N22.61 billion, representing a 138 per cent year-on-year increase.
The stock price performance was equally outstanding, rising by 65 per cent to close at N116 on December 31, 2024.
Nnorom said as the company entered the next phase of its journey, it remained poised to unlock new opportunities, deliver exceptional value, and shape the future of hospitality in Nigeria and beyond.
He said, “Our strategy for 2025 focuses on scaling innovation, deepening customer engagement, and reinforcing our leadership position in the industry.”
According to him, “This milestone firmly positioned Transcorp Hotels Plc as one of the most attractive stocks on the Nigerian Stock Exchange (NGX). These results are a testament to investor confidence in our growth trajectory and prospects.
“Another highlight of the year, which contributed to the performance, was the company’s concerted effort to enhance guest experience and operational efficiency through strategic upgrades to its facilities.
“Transcorp Hotels Plc invested in modernising key areas of its operations, including introducing new culinary concepts and elevating service delivery to align with international standards.”
He added, “These enhancements have been instrumental in reinforcing the company’s reputation for excellence and attracting a more diverse clientele. As a result, guest satisfaction scores improved significantly, with the company sustaining, from July 2024 till date, the number one spot on TripAdvisor in terms of value for money and guest satisfaction.”
The chairman said, “Together, we will continue to write a story of enduring success—one that reflects the limitless potential of Nigeria and the unyielding spirit of Transcorp Hotels Plc.
“As we step into 2025, we do so with renewed determination and bold aspirations. The new year is not just an opportunity to sustain what we have achieved but a chance to redefine what is possible.”
The newly appointed Managing Director/Chief Executive, Transcorp Hotels, Uzoamaka Oshogwe, said, “As we step into 2025, we reaffirm our promise to innovate, personalise, and exceed your expectations at every touchpoint.”
She said, “As we embrace 2025 and beyond, we do so with a renewed sense of purpose. The road ahead will demand innovation, resilience, and strategic thinking— qualities that have long defined Transcorp Hotels Plc, and will continue to shape our legacy. Together, as one unified team, we will scale new heights, redefine industry standards, and build a future where African hospitality stands proudly on the global stage.”
The managing director said with Nigeria’s economy on the path of recalibration and increased regional integration across Africa, hospitality will continue to play a critical role in economic growth, job creation, and global connectivity.
She said, “We see these changes not as challenges but as opportunities—opportunities to redefine the guest experience, expand our impact, and elevate African hospitality to global standards.
“Through strategic foresight, operational agility, and customer-centric innovation, we are well-positioned to seize the moment and unlock new frontiers of growth.”
Oshogwe also vowed to sustain the growth already achieved in the company.
“So, I must continue to build on the exceptional guest experience because in the middle of this business, the most important thing is our guests, after our staff,” she stated.
She added, “We’re going to, through innovation, give them the type of experience that they would not have experienced anywhere else. And that is using technology. Because there’s nothing as discouraging as the guests coming in and it’s taking so long to check in.
“We’re going to ensure that the checking process is seamless. And then when they get into their room, they will feel like they’re the only guest in the hotel. That is giving them a guest experience that is personalised.”
