In 2024, Transcorp Hotels Plc's revenue and profit grew by 69% and 138%, respectively, from a period of significant losses in 2020

Key takeaways:

Revenue grew by 402% over a decade, from ₦14 billion in 2015 to ₦70 billion in 2024.
The company witnessed an extraordinary post-pandemic recovery, with 111% revenue growth in 2021.
There was a consistent strong performance from 2021-2024, with revenue more than tripling.
Transcorp Hotels recorded a profit of ₦14.9 billion in 2024, representing a 326% increase from 2015.
Despite setbacks, Transcorp Hotels’ performance improved notably from 2021 onward, marking strong growth.

Transcorp Hotels' financial journey epitomises resilience in Nigeria's hospitality sector. After moderate fluctuations from 2015 to 2019, the company faced its greatest challenge in 2020 when the COVID-19 pandemic devastated the hospitality industry, slashing revenue by half and resulting in a substantial ₦6.3 billion loss.

The company recorded a spectacular turnaround in 2021 with 111% revenue growth, followed by three consecutive years of accelerating performance. By 2024, Transcorp Hotels had not only recovered but was thriving beyond all previous benchmarks, with revenue exceeding ₦70 billion and profits soaring to nearly ₦15 billion.

Source:

Transcorp Hotels Plc Annual Report, NGX

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Period:

2015-2024

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