Transcorp Hotels Plc and Hilton Hotels today signed an agreement extending the current management of Transcorp Hilton Hotel Abuja for the next 20 years. The hotel has been managed by Hilton, since it began operations in 1987. The two companies, are currently working on two other hotel projects in Nigeria.
Transcorp Hilton Hotel Abuja was originally owned by the Federal Government through NIRMSCO Properties till 2005, when it sold a 51% stake to a consortium of investors led by Transcorp Plc. 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 THTS
THTSL was rebranded Transcorp Hotels and listed on the Nigerian Stock Exchange in 2015. Transcorp Hotels Plc shares are currently trading at N7.21 in today’s session on the (NSE) up 44% year to date. The company has equity interests in Transcorp Hotels Port Harcourt, Transcorp Hotels Calabar and Transcorp Hotels Ikoyi, and is a subsidiary of Transcorp Plc.
