The first hotel group in Nigeria to reach the N1 trillion market capitalization thresholds is Transcorp Hotels Plc, a subsidiary of Transnational Corporation Plc. This achievement allows the firm to join the SWOOTs (Stocks Worth Over One Trillion) group.
Transcorp Hotels Plc (TRANSCOHOT) closed at N100 on Wednesday, January 10, 2023, after gaining 7.24% on the NGX. This brings the group’s market valuation to N1.024 trillion.
Transcorp Hotels has performed very well on the Nigerian Exchange (NGX) in the last year. With a year return of 1022.9%, the firm finished 2023 as the best-performing stock in the NGX.
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The company closed 2023 with a market cap of N718.8 billion, a whopping N654.8 billion increase from the N64 billion recorded at the start of 2023.
In 2024, Transcorp Hotels maintained impressive market growth, boasting a 42.5% increase year-to-date. This year alone, Transcorp Hotel’s market capitalization has surged by N305.43 billion.
During the week ending January 12, 2023, Transcorp Hotels Plc joined banking groups, FBN Holdings and United Bank for Africa in the SWOOT group. Hence, there are eleven companies in the NGX with a market cap of over N1 trillion.
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SWOOT List are:
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
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Financial Performance in 9M 2023
In 9M 2023, Transcorp Hotels recorded a revenue of N29.85 billion, representing a 32% increase year-on-year from the same period in 2022. In the same 9M 2023, The company recorded a net income of N4.07 billion, representing a 79% increase year-on-year from the corresponding period in 2022.
Transcorp Hotels is a subsidiary of Transnational Corporation Plc, with the latter owning a significant 76.15% stake in the hotel. The Federal Government of Nigeria also owns an 11.04% stake in the hotel.
The company which is headed by Dupe Olusola owns Transcorp Hilton Abuja and Transcorp Hotels, Calabar, as well as the online platform, Aura by Transcorp.
