Transcorp eyes diversification to boost revenue

Onwubuke Melvin
Onwubuke Melvin

The Managing Director\Chief Executive Officer, Transcorp Hotels Plc, Dupe Olusola, said that the company intends to diversify its services to increase its revenue growth in 2024 and beyond.

This follows Transcorp Hotel’s recent divestment of its 100% interest in Transcorp Hotels Calabar Limited to Eco Travels and Tours Limited, an indigenous hospitality company.

This was disclosed by Olusola during the company’s analysts’ presentation of its 2023 financial year report and investors call, according to Vanguard.

She pointed out that the organisation intends to expand its digital landscape to improve its performance by enhancing the use of its digital platform Aura, upgrading technology to enhance the guest experience, and continuously looking for ways to improve the value and efficiency of its assets and more.

She said: “To sustain our performance, we will focus on key growth drivers that will ensure we continuously win in this ever-changing industry and economy. Some of these include: “The enhanced use of our digital platform Aura, which is revolutionizing how we drive bookings, engage with guests, and generate revenue.

“This technology underscores our commitment to growth and adaptability in the digital age. Upgrading our technology to enrich the guest experience, offering contactless services and personalized offerings that cater to the unique preferences of each visitor, ensuring that our services are not just cutting-edge but also deeply personal.

“Strategic sourcing and operational efficiency which are key to our cost optimization efforts. We are dedicated to managing expenses without compromising the quality that our guests have come to expect from us.

“Focus on eco-friendly initiatives, energy-saving measures, and sustainable sourcing, and continuously looking for ways to enhance the value and utility of our assets – including thoughtful refurbishments and adaptive reuse of spaces, ensuring that our investments yield the best possible returns.

“In conclusion, we are confident that we will maintain our performance through 2024 and beyond. We are committed to not only upholding but elevating the exceptional guest experiences that set us apart.

“Our strategy is to widen our portfolio, innovating and diversifying our services to drive revenue growth further whilst also focusing on operational efficiency to reinforce our position as the leader in Nigeria’s hospitality sector.”

Transcorp Hotel’s strategic focus is on Abuja and the significant continuing investment in the iconic Transcorp Hilton Hotel and development opportunities in Lagos.

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