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

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transcorp hotels financial results

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.

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Travel/Tourism

Emirates Showers Dubai Passengers With Exclusive Offers

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Emirates Dubai Summer Surprises

By Modupe Gbadeyanka

Emirates passengers travelling to or through Dubai will enjoy some exclusive offers, including complimentary stays at the iconic JW Marriott Marquis and hundreds of discounts through the popular My Emirates Pass, the airline operator has said.

In a statement, the company stated that from June 22 to July 12, 2026, travellers who purchase an Emirates return ticket in First Class or Business Class are invited to enjoy a two-night stay, while customers booked in Premium Economy Class or Economy Class can enjoy a complimentary one-night stay.

It was disclosed that this special offer is valid for all return tickets to or stopping over in Dubai for more than 24 hours, for customers travelling between June 25 and September 30, 2026.

In addition, passengers can enjoy over 600 offers available in the popular My Emirates Pass, which provides access to spas, restaurants, big-name retailers and much more by simply showing either a physical or digital boarding pass along with a valid ID at participating venues to enjoy the benefits.

These exclusive offers are being offered by Emirates through its Dubai Summer Surprises, which enters its 28th year in 2026.

Further, from July 2 to August 30, residents and visitors can expect an extraordinary live Beat the Heat DXB concert series, cultural events and an array of wellness and fitness activities, as well as big savings and exclusive, limited-time experiences in the city’s malls and lifestyle destinations.

“Whether visitors are seeking relaxation, adventure, entertainment, or a combination of all three, Dubai is the ideal start to any summer vacation.

“We’re inviting passengers to enjoy even more of the city with a complimentary hotel stay to take advantage of the exceptional range of shopping, entertainment, dining and family-friendly experiences that define the Dubai summer experience, when stopping over as part of your journey or visiting Dubai as your final destination,” the Deputy President and Chief Commercial Officer of Emirates, Mr Adnan Kazim, said.

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Travel/Tourism

Akida Hills to Transform Jabi Lake Waterfront to Tourism Destination

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Akida Hills Jabi Lake Waterfront

By Modupe Gbadeyanka

The popular Jabi Lake waterfront in Abuja is set to become a major leisure and tourism hub in the country, thanks to Akida Hills, which is making efforts to enable visitors to enjoy the transformation from December 2026.

The Nigerian mixed-use real estate and destination development company has been allocated a 3.36-hectare development site within the approximately 14-hectare waterfront district, where it will deliver a phased mix of recreational, entertainment, and public leisure experiences.

According to the deal, the first phase of the development will introduce the destination’s first operational attractions, including dining and leisure experiences, water-based activities, structured weekly programming, a seasonal lights festival, and the dancing musical fountain as its signature attraction.

Additional experiences and amenities will be introduced in subsequent phases as the destination evolves.

Designed as a central landmark within the waterfront experience, the dancing musical fountain will combine choreographed water displays, synchronised lighting, and music to create a distinctive evening attraction and focal point for visitor engagement.

Upon completion, the development is expected to serve as a major hub for tourism, recreation, entertainment, and community engagement, further strengthening Abuja’s position as a leading leisure and lifestyle destination.

Construction and implementation activities will progress in phases, with additional announcements on attractions, programming, and commercial partnerships expected ahead of the December 2026 launch.

“Jabi Lake represents one of the most significant opportunities to create a world-class waterfront destination in Africa.

“Through this development, we aim to deliver experiences that attract residents, visitors, and tourists year-round while contributing to economic growth, job creation, and Nigeria’s tourism appeal.

“Our vision is to establish Jabi as a defining waterfront destination for the continent – one that demonstrates the transformative power of destination-led development and reimagines how people experience a city,” the founder of Akida Hills, Mr Kayode Bamisile, said.

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Travel/Tourism

FAAN Mulls New October Deadline for Airport Taxi Upgrade Policy

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Airport Taxi Upgrade

By Adedapo Adesanya

The Federal Airports Authority of Nigeria (FAAN) is considering extending the deadline for its airport taxi upgrade policy to October, following concerns raised by the Nigeria Union of Private Cab Operators.

The development was disclosed on Monday in Lagos by Mr Henry Agbebire, Director of Public Affairs and Consumer Protection at FAAN, saying that the possible extension followed complaints and concerns from airport cab operators, even as the authority maintained that the policy was designed to improve service standards across Nigerian airports.

“The policy aligns with international best practices and seeks to elevate service quality,” Mr Agbebire said.

He added that passengers deserved “clean, safe, comfortable and professionally maintained vehicles” within airport transport systems.

The FAAN spokesman dismissed claims that the authority had failed to engage operators on the policy, insisting that consultations had been ongoing.

He said FAAN maintained regular discussions with licensed transport providers operating within airport premises, stressing that engagement was conducted directly with corporate entities rather than unions or associations.

“Engagements on operational matters are conducted directly with affected corporate entities,” he said.

Mr Agbebire explained that discussions on the upgrade requirement began in July 2024, giving operators time to comply.

He noted that the original compliance deadline had already been extended twice—from January 2026 to June 2026—citing economic realities and the need to give operators adequate preparation time.

According to him, the policy was not intended to punish operators or restrict their participation in airport transport services.

“Operators have been afforded ample opportunity to prepare for compliance,” he stated.

However, he warned that further extensions beyond the proposed October deadline may not be granted.

Mr Agbebire acknowledged the role of airport cab operators in passenger movement, urging them to support the initiative aimed at improving service delivery.

He added that FAAN remains committed to passenger-focused reforms across Nigeria’s aviation sector.

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