Transcorp Hotels Plc Hits N1 Trillion In Market Capitalisation Under Dupe Olusola's Chairmanship
Upon reaching a market capitalization of N1 trillion on the Nigerian Exchange Limited, Transcorp Hotels Plc has joined SWOOT (Stocks Worth Over One Trillion).
The strategic leadership of the hotel's CEO, Dupe Olusola, has made this feasible. This past March 25, she was officially named Managing Director/CEO of Transcorp Hotels Plc by the Board and Executive Management of Transnational Corporation of Nigeria Plc (Transcorp).
Through her responsibilities at Transcorp Hotels Calabar, Transcorp Hilton Abuja, and Aura by Transcorp Hotels, the company's digital hospitality platform, she ensures that the business achieves its strategic goals.
Some sources claim that investors were promised a higher return on investment in capital gains by Transcorp Hotels Plc earlier this month compared to other securities listed on the Nigerian Exchange Limited last year.
The 2023 trading year for Transcorp had a unit price of N6.25 and a share price of N70.18. In 2023, this amount signifies a capital gain increase of 1,027% for shares.
With a final stock price of N100 per unit, the company's market capitalization increased to N1.024 trillion by Monday's trading end.
The hotel brand demonstrated endurance in the face of inflation to continue growth, according to Transcorp's Q3 report from last year. Revenue settled at N29.9 billion, up 31.76% from N22.7 billion, the previous year. From N3.4 billion to N5.5 billion, a 62% increase, that was Transcorp's profit.
"This consistent financial upswing reinforces our dedication to excellence and resilience in the face of economic challenges," said Dupe Olusola, Managing Director/Chief Executive Officer of Transcorp Hotels, in response to the milestone. "We have remained nimble, adapting quickly to meet the dynamic preferences of our guests."
Dupe has extensive experience in the marketing field, having previously worked for United Bank for Africa, a prominent financial services company in Africa. While at UBA Group, she oversaw the creation and implementation of the company's integrated strategy across all of its businesses, including banks and non-banks.
Before that, she worked at United Bank for Africa (UBA) Plc as the Group Head of Embassies, Multilaterals and Development Organisations (EMDOs) and Global Investors Services (GIS). Under her direction, the Bank's involvement in the EMDOs & GIS industry grew admirably, both in Africa and beyond. Dupe is well-versed in the retail and business markets.
Dupe joined UBA after a stellar career with indigenous agricultural enterprise Teragro Commodities Limited, where she served as MD and CEO. Teragro is the only Nigerian supplier of the ingredients for Five Alive Pulpy Orange Juice, a product of a collaboration between Teragro and Coca-Cola that she pioneered.
Her extensive background includes private equity work with African Capital Alliance as well as investment and small and medium enterprise (SME) experience with Growing Business Foundation, Bloomberg Financial Markets UK, SecTrust (now Afriinvest), Transcorp Corporation, and Northern Trust Corporation of Chicago, UK, among other local and international organisations.
A graduate of the University of Kent with a Master of Science degree in development economics, Dupe began her academic career in economics at the University of Leicester in the UK. She has many certifications, including Prince 2, PMP, and Investor Management, all attained in the United Kingdom. She has a deep commitment to advancing inclusion of women, helping developing nations improve their economies, and providing access to banking services for the economically disadvantaged.
One of the many international organisations that have recognised her achievements is Ventures Africa, which included her in their 2015 list of the 10 Most Influential Nigerian CEOs.
Transcorp Hotels Plc is an affiliate of Transnational Corporation Plc. Among the companies that have reached the N1tn capitalization club are Access Holdings, United Bank for Africa, Zenith Bank, Guaranty Trust Holdings Company Plc, Seplat Energy Plc, Airtel Africa, MTN Nigeria, BUA Cement, Dangote Cement, and BUA Foods Plc.