Transcorp Hotels Plc has announced that Eco Travels and Tours Limited, a local hospitality firm, has purchased its entire stake in Transcorp Hotels Calabar Limited.
According to thecable.ng, this acquisition marks a significant development in the hospitality sector, reflecting a strategic move by Eco Travels to expand its presence in the industry.
According to a statement on April 17 by Stanley Chikwendu, the company’s secretary, Eco Travels and Tours has a diverse portfolio including hotel management, wellness and fitness facilities, family-centric spaces, as well as interior and exterior design and decoration.
“Transcorp Hotels strategic focus is on Abuja and the significant continuing investment in the iconic Transcorp Hilton Hotel and in development opportunities in Lagos,” the company said.
In its published 2023 audited financial statements, Transcorp Hotels — a subsidiary of Transnational Corporation (Transcorp) Plc — recorded 36 percent revenue growth.
With the ongoing execution of its business strategies and optimisation of new business opportunities, Transcorp Hotels said it will continue to create more value for all its stakeholders.
Meanwhile, on January 15, Transnational Hotels joined the trillionaire club in the stock market after their valuation crossed N1 trillion.
As of Thursday, the company’s market capitalisation is valued at N1 trillion.
On March 4, Transnational Corporation announced the listing of its subsidiary, Transcorp Power Plc, on the Nigerian Exchange Limited (NGX).
