Transcorp Hotels Unveils Strategies to Boost Operations

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bY Goddy Egene

The Chief Executive Officer (CEO) of Transcorp Hotels Plc, Dupe Olusola, has said the company has developed strategies that would boost its operations and deliver sustainable value to all stakeholders.

Olusola, who spoke while presenting the company’s ‘Facts Behind the Figures (FBF) to investors and other stakeholders at the Nigerian Exchange Group (NGX), said the Covid-19 pandemic made the company to think outside the box and came up with new innovations.

According to her, Transcorp Hotels Plc recently launched Aura, a digital platform for booking quality accommodation, great food and exciting experiences.

The hospitality brand has also inaugurated a purpose-built co-working space at Transcorp Hilton Abuja, which it called Workspace by Transcorp Hotels and would be expanded to other locations.

Speaking on the first quarter (Q1) performance, the Transcorp Hotels Plc boss said it was quite impressive with a total revenue of N3.8 billion which is above budget by 21 per cent (N3.15 billion).

“This impressive performance was driven majorly by our intensive drive for Leisure & Staycation and unique packages for key events and activities such as the new year festive package in January, Valentine’s Package, Mother’s Day package, Group Conference & Events activities from major companies and parastatals,” she said.

Looking ahead, Olusola said the company would continue to invest in new businesses and asset-light initiatives that leverage technology to increase our footprint across Africa.

“We have also engaged other strategic and cost optimizing initiatives across both our hotels in Abuja and Calabar, as we increase focus on our leisure and staycation business segments. We will constantly continue to challenge ourselves to ensure that we meet the diverse customer needs and provide excellent experience across all touchpoints. We are in for a long haul. Our plan is to expand beyond Nigeria and we are looking at everything recreation and entertainment. Sustainability is the most important thing for us,” she said.

Also speaking at the event, the Divisional Head, Listings Business at NGX, Mr. Olumide Bolumole expressed pleasure at Transcorp Hotels Plc.’s interaction with the market.

“Recently, the NGX hosted the MD/CEO of Transcorp Hotels Plc. Mrs Dupe Olusola to a digital closing gong ceremony to commemorate the formal listing of their N10 billion rights issue. We are pleased that the company has again chosen to utilise our platform to engage the market about its financial performance as well as strategic and operational development within the organization through a FBF presentation,” Bolumole said.
According to him, considering the impact of COVID-19 on the hospitality sector, organisations will need to reimagine how they operate to navigate the uncertainties of doing business in the new normal. He hailed Transcorp Hotels’ commitment to innovation, allowing the company to serve customers beyond the hotel premises through new businesses like Aura.