In a strategic move set to reshape the future of hospitality in Nigeria, Transcorp Hotels Plc has announced that a portion of the recently raised ₦14.75 billion capital will be directed toward the expansion of the Transcorp Hilton Abuja and the ongoing construction of the Transcorp Hilton Lagos, further solidifying its position as a powerhouse in the nation’s hospitality and tourism industry.
This announcement was made by the Chairman of Transcorp Hotels Plc, Mr. Emmanuel Nnorom, during the company’s 2024 Annual General Meeting (AGM) held in Abuja on Monday. Speaking to shareholders and stakeholders at the event, Mr. Nnorom underscored the company’s commitment to leveraging its capital raise to fund high-impact projects that will enhance shareholder value and support national economic growth.
“We are proud of the successes we have recorded so far, but we recognize that to stay ahead, we must continue to invest in growth,” Mr. Nnorom said. “A significant part of the ₦14.75 billion will go into expanding the Transcorp Hilton Abuja—an iconic establishment that continues to deliver excellence—as well as the timely delivery of our Lagos project, the Transcorp Hilton Lagos.”
Transcorp Hilton Abuja: Strengthening a Landmark
The Transcorp Hilton Abuja, located in the heart of Nigeria’s capital city, is a flagship property in the group’s portfolio. Since its commissioning, the hotel has served as a premier destination for global dignitaries, business executives, and leisure travelers. With its award-winning service and strategic location, it has consistently maintained high occupancy rates and is a major contributor to the group’s revenue.
The planned expansion will further enhance its offerings, modernize its facilities, and create new experiences for guests, including expanded meeting and conference space, upgraded leisure amenities, and sustainability-driven infrastructure enhancements.
Transcorp Hilton Lagos: A New Chapter in Nigerian Hospitality
Meanwhile, construction work is progressing at the Transcorp Hilton Lagos, a development aimed at transforming the hospitality experience in Nigeria’s commercial capital. Designed to reflect the grandeur and quality associated with the Hilton brand, the Lagos property will offer luxury accommodation, state-of-the-art meeting facilities, high-end restaurants, wellness spaces, and world-class customer service tailored to both business and leisure travelers.
Positioned as a major growth driver for Transcorp Hotels, the Lagos hotel is expected to tap into the large and underserved luxury hospitality market in Lagos and cater to the increasing demand for premium hospitality services.
“Transcorp Hilton Lagos is not just another hotel—it is a bold statement about our vision to shape the future of hospitality in Africa,” Mr. Nnorom said.
Supporting National Development and Creating Jobs
The dual investments in Abuja and Lagos are expected to contribute significantly to Nigeria’s GDP through tourism, foreign exchange earnings, and employment generation. With hundreds of construction jobs already created and thousands more expected in operational phases, the projects will also support government objectives around infrastructure development and youth employment.
Future Outlook
Transcorp Hotels Plc has consistently demonstrated operational resilience and profitability. The latest investment marks another step in its aggressive growth trajectory. The company aims to deliver strong financial performance while improving guest experiences, increasing occupancy rates, and scaling its impact within the hospitality industry.
The AGM also highlighted the company’s improved earnings in the 2023 financial year, ongoing digital transformation initiatives, and its commitment to environmental sustainability, innovation, and stakeholder engagement.
“We are confident that these developments will position us for long-term success and deliver enduring value for our investors,” the Chairman concluded.
About Transcorp Hotels Plc
Transcorp Hotels Plc is one of Africa’s leading hospitality companies, operating premium hotels under the Hilton brand in Nigeria. With a strong reputation for excellence and innovation, the company continues to push boundaries in redefining hospitality across the continent.
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