Transcorp Hotels C.E.O, Dupe Olusola Talks Next Big Projects On Heels Of 172% Rise In Profit

Dupe Olusola, the Chief Executive Officer of Transcorp Hotel says the management is not resting on laurels despite the phenomenal growth achieved.

Transcorp Hotels reported a profit before tax of N4.5 billion representing a 172% rise year on year compared to the profit before tax of N1.7 billion recorded in 2021.

The frontrunner in the hospitality sector also announced a 47% growth in revenue to N31.4 billion at the 9th annual general meeting that was held at the Transcorp Hilton Hotel in Abuja.

Chief Executive Officer Olusola who describes the record growth as “really really exciting” insists the management is not taking it for granted and not resting on its laurel.

“We are looking at launching an event center in the first quarter of next year. It is a 3,500 to 5,000-capacity event center located in Abuja. It is going to be great, because it actually provides so much in terms of facility, in terms of capacity to able to house a larger size event compared to what we can do right now. What we see increasingly is that people are traveling from all over the world, from Africa, from US (United States of America), etcetera to come and have events in Abuja. And so having something like this in Abuja is just fantastic because then, they have their accommodation in the hotel and event center just walking distance in the hotel premises

“also coming from us, we are closing ground on our Ikoyi, Glover Hotel. This is also going to be a 5-Star Hotel as well. We are tidying up on that. We recently just acquired more land, over 2,900 square metres of land recently. We have expanded the space. So the vision has even gotten bigger beyond when we started, We are looking to ensure not only are we offering the best-in-class restaurant and rooms, its also going to be the whole garmouth of wellness, health, and fitness and also working area as well within that space. There is just so much more coming and we are constantly looking at how we can also expand beyond Nigeria to other areas across Africa and this is one thing Aura is going to help us achieve in a quick phase as well, so it is a great time ahead, really great time for us at the company as a whole” the Transcorp Hotel C.E.O provided insight into the future with great optimism in a chat monitored by SocietNow.Ng on the business segment of TVC News.

Aura is the Online Accommodation Booking Platform by Transcorp Hotels with over 5,000 accommodations which is a combination of hotels, short lets apartments, and related provisions across 30 states in Nigeria.

The Asset Light strategy launched two years ago – with a second launch based on feedback and added discounts – caters to hospitality needs across social classes and offers experiences that include dining, quick food, and wellness facilities.

“It’s been a combination of hard work, dedication, consistently thinking outside of the box, to constantly challenge ourselves to see how much we can do, how much more value can we add and also noting that beyond the figure, beyond the facts, it is also the accomplishments, the experience that were given to all four customers and the value we are actually delivering to all of our shareholders makes it all worth it, so its great time for us as a team and great that we are receiving all the support from our board” Olusola provided insight into what it took to come this far.