HY 2018: Aggressive Marketing Strategies Buoy Transcorp Hotels Revenue by 29%

By Modupe Gbadeyanka

The pride and pearl of the Nigerian hospitality sector, Transcorp Hotels Plc has announced its Unaudited Financial Statements for the period ended June 30, 2018.

In the results, the firm showed significant growth over same period last year recording a turnover of N8.01 billion, Profit Before Tax (PBT) of N2.02 billion and Earnings Per Share (EPS) of N17.84k.

The financial statements showed that Transcorp Hotels delivered a commendable 29 percent year-on-year growth in revenue at the close of the first half of 2018, moving from N6.20 billion in HY 2017 to N8.01 billion in HY 2018.

Also, gross profit for the period grew by 31 percent to N5.89 billion from N4.50 billion of HY 2017; profit before tax for HY 2018 was N2.02 billion against N1.10 billion in HY 2017, representing a 85 percent year-on-year growth.

The group ended with an impressive Profit after Tax of N1.38 billion, representing 83 percent year-on-year growth over N760 million in HY 2017.

Commenting on the financial results, Chief Executive Officer of Transcorp Hotels Plc, Mr Valentine Ozigbo, attributed the growth recorded during the period to the aggressive marketing strategies put in place by the management.

“We are thrilled with the half year results of the hotel, which was primarily driven by the increase in occupancy, room inventory and aggressive marketing strategies.

“With the help of a strong and dedicated workforce, we will continue to deliver significant value to our shareholders and unrivalled service excellence to our customers,” he said.

Mr Ozigbo emphasised that for Transcorp Hotels Plc to achieve its long-term strategy of being Africa’s leading hospitality company, the organisation is investing resources into diversifying its overall guest experience using technology.

According to Mr Ozigbo, “We recently launched the Transcorp Hilton mobile application, which allows guests request for dining services, housekeeping services, valet services and maintenance requests with the click of a button.

“Guests can read up about local attractions in Abuja, explore on-site and off-site recreational services and navigate key locations around the city through the inbuilt map.”

He added that Transcorp Hotels Calabar is also undergoing an extensive upgrade of its existing technology and internet services, to ensure guests experiences are better personalised and customer service is seamless across digital platforms.

“This is the only way we can remain competitive in the ever-changing business landscape,” Mr Ozigbo said.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

more recommended stories

%d bloggers like this: