... says Abuja water issue was brief and resolved
Transcorp Hotels Plc, the hospitality arm of Transnational Corporation Plc, has reported a strong start to the 2026 financial year, posting ₦22.41 billion in revenue for the first quarter while also clarifying reports of a recent water supply disruption at its Abuja property.
In its unaudited results for the period ended March 31, 2026, the company recorded a 9 per cent year-on-year increase from ₦20.64 billion achieved in Q1 2025. Management said the performance reflects steady demand across its hospitality portfolio and disciplined operational execution.
Profit Before Tax also rose by 15 per cent, while gross profit margin expanded to 77 per cent, underscoring improved efficiency and cost control within the business.
The company attributed the results to a strategy focused on operational discipline, service quality, and sustained value creation.
“Transcorp Hotels is not only growing; we are setting new benchmarks for world-class hospitality in Africa and remain committed to continuously elevating that standard,” the company said.
Chief Finance Officer, Oluwatobiloba Ojediran, said the performance showed that efficiency gains were achieved without undermining service delivery.
He noted that cost of sales margin dropped from 25 per cent in Q1 2025 to 23 per cent in Q1 2026, describing it as evidence of consistent execution across all operational areas.
Transcorp Hotels, a subsidiary of Transnational Corporation Plc, said it remains focused on strengthening its leadership position in Africa’s hospitality industry through sustained investment in service excellence and operational upgrades.
Meanwhile, the company addressed reports circulating on social media about a water supply disruption at Transcorp Hilton Abuja, describing them as misleading.
Management explained that the disruption was temporary and resulted from emergency maintenance work by the Federal Capital Territory Water Board, which began on April 14, 2026.
It stated that the interruption lasted only one day and was immediately managed through contingency systems to ensure uninterrupted guest services.
According to the hotel, normal water supply was restored on April 15, 2026, and has remained stable since then.
The management rejected claims of an ongoing shortage, insisting that operations were never halted or compromised during the maintenance period.
“Transcorp Hilton Abuja remains committed to delivering the highest standards of hospitality and guest experience,” the company said.
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