Transcorp Hotels Plc, the hospitality arm of Transnational Corporation Plc, has made history by becoming the first hospitality group in Nigeria to surpass the N1 trillion market capitalization mark, earning its place in the prestigious “SWOOTs” (Stocks Worth Over One Trillion) group.
On January 10, 2023, Transcorp Hotels Plc (TRANSCOHOT) experienced a significant uptick, closing at a share price of N100, marking a 7.24% gain on the NGX. This surge propelled the group’s market capitalization to an impressive N1.024 trillion.
The past year has been exceptional for Transcorp Hotels on the Nigerian Exchange (NGX), culminating in its status as the best-performing stock in 2023.
The company concluded the year with a staggering 1022.9% gain, ending with a market cap of N718.8 billion. This reflects a remarkable increase of N654.8 billion from its N64 billion valuation at the start of the year.
In the early days of 2024, Transcorp Hotels continued its remarkable growth trajectory, boasting a 42.5% year-to-date increase. The market capitalization surged by an additional N305.43 billion this year alone.
During the week ending January 12, 2023, Transcorp Hotels Plc joined the elite league of SWOOT companies, alongside banking giants FBN Holdings and United Bank for Africa. This achievement brings the total number of companies on the NGX with a market cap exceeding N1 trillion to eleven.
In the third quarter of 2023, Transcorp Hotels reported a robust performance, with a revenue of N29.85 billion, marking a 32% year-on-year increase from the same period in 2022. The net income for 9M 2023 stood at N4.07 billion, reflecting a substantial 79% growth compared to the corresponding period in 2022.
As a subsidiary of Transnational Corporation Plc, Transcorp Hotels is majority-owned by its parent company, holding a significant 76.15% stake. Additionally, the Federal Government of Nigeria maintains an 11.04% stake in the hotel.
Transcorp Hotels Plc, under the leadership of Dupe Olusola, oversees iconic properties such as Transcorp Hilton Abuja, Transcorp Hotels Calabar, and the online platform Aura by Transcorp.
