A hospitality subsidiary of Transnational Corporation Plc, Transcorp Hotels Plc, is Nigeria’s first hospitality organization to cross the N1 trillion market capitalization threshold, admitting it to the SWOOTs (Stocks Worth Over One Trillion) club.
Transcorp Hotels Plc (TRANSCOHOT) gained 7.24% at the NGX on Wednesday, January 10, 2023, to close at a share price of N100, bringing the group’s market valuation to N1.024 trillion.
Transcorp Hotels has performed admirably on the Nigerian Exchange throughout the last year. The company finished 2023 as the best-performing stock on the NGX, with a yearly gain of 1022.9%.
The company ended 2023 with a market capitalization of N718.8 billion, a rise of N654.8 billion from the start of 2023.
Transcorp Hotels continued strong market growth in 2024, with a 42.5% year-to-date increase. Transcorp Hotel’s market value has increased by N305.43 billion this year alone.
Transcorp Hotels Plc joined banking groups FBN Holdings and United Bank for Africa in the SWOOT group for the week commencing January 12, 2023. As a result, the NGX now has eleven companies with a market capitalization of more than N1 trillion.
The following firms are members of the SWOOT group:
Airtel Africa – N7.52 trillion
Dangote Cement – N5.96 trillion
MTN Nigeria – N5.94 trillion
BUA Foods – N4.095 trillion
BUA Cement – N3.45 trillion
GTCO Holdings – N1.36 trillion
Seplat Energy –N1.36 trillion
Zenith Bank – N1.35 trillion
United Bank for Africa – N1.06 trillion
Transcorp Hotels – N1.02 trillion
FBN Holdings – N1.005 trillion
Transcorp Hotels reported a revenue of N29.85 billion in 9M 2023, a 32% increase over the same period in 2022. In the same 9M 2023, the company achieved a net income of N4.07 billion, a 79% rise year on year from the similar period in 2022.
Transcorp Hotels is a subsidiary of Transnational Corporation Plc, with the latter owning a major 76.15% share in the hotel. The Federal Government of Nigeria also has an 11.04% ownership in the hotel.
The corporation, led by Dupe Olusola, owns Transcorp Hilton Abuja and Transcorp Hotels, Calabar, as well as the online platform, Aura by Transcorp.
