Transcorp Hotels Sells Calabar Subsidiary To Eco Travels & Tours

On Thursday, Transcorp Hotels Plc announced that it has sold Eco Travels and Tours Ltd., an indigenous hospitality business, its whole stake in Transcorp Hotels Calabar Ltd.

The Transnational Corporation’s Company Secretary, Mr. Stanley Chikwendu, revealed this in a notice to the Nigerian Exchange Ltd. (NGX) in Lagos.

Chikwendu states that Transcorp Hotels’ strategic priorities are development potential in Lagos and Abuja, as well as the company’s substantial ongoing investment in the venerable Transcorp Hilton Hotel.

He pointed out that Eco Travels & Tours offers a wide range of services, such as hotel management, family-friendly venues, wellness and fitness centers, and interior and exterior design and décor.

The company secretary said, in the firm’s published 2023 audited financial statements, the company recorded 36 per cent revenue growth.

With the ongoing execution of its business strategies and optimisation of new business opportunities, he noted that the hospitality subsidiary would continue to deliver even greater value to all its stakeholders.

Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation Plc (Transcorp Group), one of Nigeria’s largest conglomerates.

The hospitality subsidiary is consistently reshaping the hospitality landscape in Africa, aligning with its mission to lead in the industry and contribute to Nigeria’s growth while positively impacting lives.

Notably, in 2023, the company’s shares concluded the year as the top-performing stock on the NGX. #Transcorp Hotels Sells Calabar Subsidiary to Eco Travels & Tours.

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