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Transcorp Hotels Plc has announced its Audited Financial Statements for the full year ended December 31, 2021. The results published on the Nigerian Group Exchange showed a 114per cent growth in Revenue to N21.74billion from N10.16billion as of December 2020, while Gross Profit rose by 143 per cent to N16.23billion from N6.67billion.
The Company’s results also showed an impressive growth in its performance signalling its strong recovery from the impact of the COVID- 19 pandemic in 2020. The performance also reflects Transcorp Hotels’ resilience and nimbleness in consistently leveraging innovation to achieve outstanding performance, breaking occupancy, and revenue records in 2021.
Commenting on the result, Dupe Olusola, MD/CEO Transcorp Hotels Plc,
“We are very pleased with the incredibly strong operating performance of our businesses, as most segments improved in 2021. Our leisure demand remained strong throughout the year as different leisure packages introduced continue to drive occupancy”.
“We believe that Transcorp Hotels Plc is well-positioned to continue to capitalise on the recovery in the hospitality industry as we work towards achieving our vision of becoming Africa’s leading hospitality brand”.
Also commenting, Mr. Emmanuel Nnorom Chairman Transcorp Hotels Plc. said he expects the hospitality industry to continue to recover in 2022.
“As the domestic leisure, business and the Bleisure segment — corporate travellers which also add leisure activities into their stay – continue to expand, even as international guests return, we expect the hospitality industry to continue its recovery,” Mr Nnorom said.
