Jason Obinna
Transcorp Hotels Plc, the subsidiary of Transnational Corporation Plc, has become the first hospitality company in Nigeria to surpass the N1 trillion market capitalization mark. On January 10, 2023, the company’s stock (TRANSCOHOT) gained 7.24% on the NGX, closing at N100 per share and reaching a market cap of N1.024 trillion. Over the past year, Transcorp Hotels has experienced remarkable performance on the Nigerian Exchange (NGX), emerging as the best-performing stock with a yearly gain of 1022.9%.
The company closed 2023 with a market cap of N718.8 billion, marking a substantial increase from the N64 billion recorded at the beginning of the year. In 2024, Transcorp Hotels has maintained impressive market growth, with a year-to-date increase of 42.5%, contributing to a surge in market capitalization by N305.43 billion. The company has now joined the SWOOT group, which includes eleven companies on the NGX with a market cap exceeding N1 trillion.
These companies encompass various industries, including telecommunications, cement, banking, and energy. In the financial performance for 9M 2023, Transcorp Hotels recorded a revenue of N29.85 billion, signifying a 32% YoY increase, and a net income of N4.07 billion, reflecting a 79% YoY increase from the same period in 2022. As a subsidiary of Transnational Corporation Plc, with the majority stake owned by the corporation and a notable government ownership, Transcorp Hotels operates key establishments such as Transcorp Hilton Abuja and Transcorp Hotels, Calabar, along with the online platform, Aura by Transcorp.
