Dupe Olusola: Reflecting on an Extraordinary Journey
When I was appointed MD/CEO of Transcorp Hotels Plc in March 2020, I stepped into a company with strong numbers—N19 billion in revenue and #1.1 billion in Profit Before Tax (PBT).
Almost five years later, in December 2024, I bowed out with an incredible achievement of N70.1 billion in revenue, N22.6 billion in profit before tax, a skyrocketed share price, and incredible value delivered to our stakeholders. What an amazing journey!
I officially took the reins on March 25, 2020-just as the world came to a standstill.
The COVID-19 pandemic hit, and the hospitality industry was shaken to its core.
Revenues plunged to N10.2 billion, a loss of N8.9 billion, occupancy dwindled to almost 5%, and share prices tumbled. Our hotels, once bustling with life, became eerily quiet. But giving up was never an option.
With an exceptional team by my side, we chose to fight, to think differently, and to innovate relentlessly. Phew!!! Our mission wasn’t just to survive-it was to redefine hospitality and emerge stronger.
We introduced bold, never-seen-before offerings:
J A drive-through cinema in our parking lot J Expanded takeaway and delivery services
Curated leisure and staycation packages
• Laundry services beyond hotel guests
Creative engagement strategies to keep guests connected
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