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Transcorp Hotels plc

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Transcorp Hotels Plc
Company typeCompany
IndustryHospitality
HeadquartersLagos, Nigeria
Key people
Otega Emerhor, Chairman
, Valentine Ozigbo CEO

Transcorp Hotels Plc, formerly Transnational Hospitality & Tourism Services Limited (THTSL), is the hospitality subsidiary of Transnational Corporation of Nigeria Plc (Transcorp), a diversified conglomerate with interests in the Power, Hospitality, Agriculture and Oil and Gas sectors headquartered in Lagos, Nigeria. It was listed on the Nigerian Stock Exchange in January 2015.[1]

With an award-winning property in Abuja;[2][3] the Transcorp Hilton Hotel Abuja, a destination hotel in Calabar; Transcorp Hotels Calabar,[4] and planned properties in Lagos and Port Harcourt,[5] Transcorp Hotels is operating within the hospitality industry and developing strategies in the medium to long term that could position the company as a key industry player on the continent.

History

In 2005, the Federal Government of Nigeria privatized NIRMSCO Properties Limited —the then owner of the Nicon Hilton Hotel, Abuja. As part of a consortium, Transcorp Plc purchased a proprietary stake in the company and became the core investor, while the Federal Government retained the remaining 49 per cent. Hilton International LLC was engaged to manage the property.

In 2007, the name NIRMSCO Properties Limited was changed to Transnational Hotels & Tourism Services Limited (THTSL). THTSL was the hospitality subsidiary of Transcorp.

In 2013, Transcorp bought out other consortium members and became the sole owner of the 51 per cent controlling shares in THTSL. Soon thereafter, Transcorp Hilton Hotel Abuja was named Nigeria’s leading hotel in 2013 by World Travel Awards. It secured hosting rights for the World Economic Forum on Africa in 2014 and continues to host other high-profile events.

THTSL was rebranded Transcorp Hotels Plc in 2014 ahead of an initial public offering in October 2014.[6][7][8]

Leadership

Transcorp Hotels is led by CEO Valentine Ozigbo. The Board is chaired by O’tega Emerhor, with support from Benjamin Dikki, Okaima Ohizua and Emmanuel N. Nnorom.[9]

References

  1. ^ "Transcorp Hotels Plc Lists on The NSE". Nse.com.ng. 2015-01-14. Retrieved 2015-10-28.
  2. ^ "Transcorp Hilton Abuja Honoured At World Travel Awards 2015". Naij.com. 2015-06-21. Retrieved 2015-10-28.
  3. ^ "Transcorp Hilton Abuja Named Winner In Five Categories At World Travel Awards 2015". OnoBello.com. 2015-06-24. Retrieved 2015-10-28.
  4. ^ Kate at Hotels.ng (2014-02-03). "Transcorp Metropolitan Hotel, Calabar . - Hotels.ng Travel Community". Hotels.ng. Retrieved 2015-10-28.
  5. ^ "Transcorp, Hilton seal Port Harcourt hotel deal - The Nation Nigeria". Thenationonlineng.net. 2014-10-20. Retrieved 2015-10-28.
  6. ^ Anuforo, Chinenye (2014-09-29). "Transcorp Hotels plans expansion with IPO proceeds". Sunnewsonline.com. Retrieved 2015-10-28.
  7. ^ Powered by DMflex WebGen --- www.dmflex.com (2014-10-05). "Transcorp's IPO Targets Opportunities in Nigeria's Hospitality Business, Articles". Thisday Live. Retrieved 2015-10-28.
  8. ^ "NSE lists Transcorp Hotel shares, as 52.3% IPO shares subscribed - Vanguard News". Vanguardngr.com. 2015-01-16. Retrieved 2015-10-28.
  9. ^ The Guardian Newspapers (2015-04-17). "Transcorp Hotels assets hit N69 billion mark | The Guardian Nigeria". Ngrguardiannews.com. Retrieved 2015-10-28.
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