Transcorp Hotels invests $200m in Ikoyi Hotel

Its Managing Director/CEO, Mrs. Dupe Olusola, made this known during a briefing after the company’s 10th Annual General Meeting in Abuja yesterday.

In addition, Mrs. Olusola said the company has concluded plans to launch its 5,000-capacity event centre in August.The state-of-the-art event centre, described as “world-class” by the MD/CEO, is expected to save the country significant foreign exchange by hosting large-scale events that would have otherwise been taken to neighboring countries like Ghana, Egypt, and Morocco.

Transcorp Hotels Plc reported a stellar financial performance for 2023. Gross revenue reached N41.5 billion, a 36 percent increase compared to the previous year’s N31.4 billion. Gross profit also witnessed a significant rise of 37 per cent, reaching N29.8 billion from N21.7 billion in 2022.

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